The Manufacturers Life Insurance Company Sells 5,630 Shares of Booking Holdings Inc. $BKNG

The Manufacturers Life Insurance Company lowered its position in Booking Holdings Inc. (NASDAQ:BKNG) by 19.7% in the 1st quarter, Holdings Channel reports. The firm owned 22,908 shares of the business services provider’s stock after selling 5,630 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Booking were worth $96,447,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Daytona Street Capital LLC purchased a new stake in shares of Booking in the fourth quarter worth approximately $27,000. Legacy Bridge LLC bought a new stake in shares of Booking during the 4th quarter worth approximately $27,000. Camelot Portfolios LLC purchased a new position in Booking during the 4th quarter valued at $27,000. Osbon Capital Management LLC purchased a new position in Booking during the 4th quarter valued at $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Booking in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Stock Up 6.7%

BKNG opened at $199.31 on Wednesday. The stock’s fifty day moving average is $173.51 and its two-hundred day moving average is $177.58. The company has a market capitalization of $154.44 billion, a P/E ratio of 26.22, a PEG ratio of 1.12 and a beta of 1.07. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $231.80.

Booking (NASDAQ:BKNG) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. Booking had a negative return on equity of 117.14% and a net margin of 22.23%.The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the business earned $0.99 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Equities analysts anticipate that Booking Holdings Inc. will post 10.44 earnings per share for the current year.

Insider Activity at Booking

In other news, VP Peter J. Millones sold 62,500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares in the company, valued at approximately $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.17% of the company’s stock.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Long-term growth appeal: A Zacks analysis identifies Booking Holdings as a potentially attractive growth stock, supporting investor interest in the company’s ability to generate market-beating returns over time. Why Booking Holdings Is a Top Growth Stock for the Long-Term
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased 21,239 BKNG call options, about 31% above the typical daily volume. This suggests increased speculative optimism, although options activity alone does not guarantee sustained buying in the stock.
• Positive Sentiment: Travel demand remains healthy: Search data from KAYAK, a Booking Holdings brand, showed French families continuing to plan summer travel, particularly short-haul beach and holiday trips. The data provides a modestly positive signal for demand across Booking’s travel ecosystem. KAYAK Summer Travel Search Data
• Neutral Sentiment: Upcoming earnings are the next major catalyst: Wall Street expects earnings growth in Booking’s report next week, but analysts note the company lacks the combination of factors that typically supports a likely earnings beat. Investors may therefore remain cautious until the company provides updated guidance and results. Booking Holdings Reports Next Week
• Negative Sentiment: Competitive pressure: Bank of America launched a broad travel center powered by Rocket Travel by Agoda, offering nearly one million travel options. The expanded Agoda-backed platform could increase competition for Booking’s hotel, flight and activity bookings. Bank of America Launches Travel Center

Analysts Set New Price Targets

A number of research firms have weighed in on BKNG. Evercore set a $245.00 target price on Booking in a research note on Wednesday, April 29th. Mizuho lowered their target price on shares of Booking from $230.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. HSBC cut their price target on shares of Booking from $309.84 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings raised shares of Booking from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Finally, TD Cowen reiterated a “buy” rating and set a $230.00 price objective (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Booking presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.05.

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.