Twin Peaks Capital Ltd Makes New $1.22 Million Investment in Booking Holdings Inc. $BKNG

Twin Peaks Capital Ltd bought a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,500 shares of the business services provider’s stock, valued at approximately $1,222,000. Booking makes up 0.7% of Twin Peaks Capital Ltd’s portfolio, making the stock its 13th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Booking in the 2nd quarter valued at $11,646,302,000. State Street Corp raised its position in Booking by 2,674.6% in the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after purchasing an additional 37,999,915 shares during the period. Bank of Nova Scotia raised its position in Booking by 1,497.3% in the first quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock valued at $3,665,168,000 after purchasing an additional 816,022 shares during the period. Deutsche Bank AG acquired a new position in shares of Booking during the second quarter worth about $1,691,186,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Booking during the second quarter worth about $1,370,455,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Activity at Booking

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 14,000 shares of the company’s stock, valued at $2,800,000. The trade was a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,425 shares of company stock worth $16,004,164 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Booking Stock Down 4.8%

Shares of Booking stock traded down $8.06 during trading hours on Friday, hitting $160.66. 7,907,758 shares of the company’s stock traded hands, compared to its average volume of 6,818,136. Booking Holdings Inc. has a twelve month low of $146.28 and a twelve month high of $220.81. The company has a market cap of $120.72 billion, a PE ratio of 17.33, a PEG ratio of 0.96 and a beta of 1.17. The stock has a 50 day simple moving average of $166.49 and a 200-day simple moving average of $176.13.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping the consensus estimate of $4.49 by $0.17. The business had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $99.50 earnings per share. As a group, equities research analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on BKNG. Morgan Stanley reaffirmed an “overweight” rating and issued a $200.00 target price (down from $230.00) on shares of Booking in a research report on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $175.00 target price on shares of Booking in a report on Wednesday. Mizuho set a $205.00 price target on Booking in a research report on Wednesday. Sanford C. Bernstein reissued a “market perform” rating and set a $188.00 price target on shares of Booking in a research report on Wednesday, August 26th. Finally, TD Cowen upgraded Booking to a “strong-buy” rating in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average price target of $222.35.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Booking Company Profile

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.