Professional Advisory Services Inc. Grows Holdings in Booking Holdings Inc. $BKNG

Professional Advisory Services Inc. raised its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 2,412.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 143,331 shares of the business services provider’s stock after purchasing an additional 137,626 shares during the quarter. Booking accounts for about 3.1% of Professional Advisory Services Inc.’s portfolio, making the stock its 16th largest position. Professional Advisory Services Inc.’s holdings in Booking were worth $25,547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BKNG. Strive Asset Management LLC purchased a new position in shares of Booking in the 3rd quarter worth about $27,000. Legacy Bridge LLC purchased a new position in shares of Booking during the 4th quarter valued at about $27,000. Camelot Portfolios LLC bought a new stake in Booking in the 4th quarter worth approximately $27,000. Swiss RE Ltd. bought a new stake in Booking in the 4th quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Booking in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Activity

In related news, Director Robert J. Mylod, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director owned 16,000 shares in the company, valued at $3,200,000. This represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $10,229,375.00. Following the completion of the sale, the vice president directly owned 425,075 shares of the company’s stock, valued at $69,572,025.25. The trade was a 12.82% 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. Over the last three months, insiders have sold 69,625 shares of company stock valued at $11,652,075. Company insiders own 0.17% of the company’s stock.

Booking Trading Up 3.4%

BKNG stock opened at $214.42 on Friday. The stock has a market capitalization of $161.11 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.27 and a beta of 1.07. The firm’s 50-day moving average price is $179.43 and its two-hundred day moving average price is $176.77. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80.

Booking (NASDAQ:BKNG) last posted its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. Booking’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $55.40 earnings per share. Equities analysts predict that Booking Holdings Inc. will post 10.33 EPS for the current year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is currently 18.58%.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Analyst Upgrades and Downgrades

Several research analysts have commented on BKNG shares. BMO Capital Markets reissued an “outperform” rating and set a $250.00 price target (up from $240.00) on shares of Booking in a research note on Wednesday. Jefferies Financial Group increased their target price on shares of Booking from $180.00 to $190.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Truist Financial set a $242.00 price target on shares of Booking in a research note on Wednesday. Sanford C. Bernstein restated a “market perform” rating on shares of Booking in a research report on Thursday, June 11th. Finally, BTIG Research reaffirmed a “buy” rating and set a $250.00 price objective on shares of Booking in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.69.

Booking 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.