Capital Investment Services of America Inc. Raises Holdings in Booking Holdings Inc. $BKNG

Capital Investment Services of America Inc. raised its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,349.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,066 shares of the business services provider’s stock after purchasing an additional 124,755 shares during the quarter. Booking accounts for approximately 2.3% of Capital Investment Services of America Inc.’s portfolio, making the stock its 18th largest holding. Capital Investment Services of America Inc.’s holdings in Booking were worth $23,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Booking by 2,643.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 527,425 shares of the business services provider’s stock valued at $94,008,000 after purchasing an additional 508,197 shares in the last quarter. Mayar Capital Ltd. lifted its position in Booking by 9.1% during the 2nd quarter. Mayar Capital Ltd. now owns 38,470 shares of the business services provider’s stock worth $6,857,000 after acquiring an additional 3,220 shares in the last quarter. Hidden Cove Wealth Management LLC purchased a new position in Booking in the 2nd quarter worth approximately $242,000. E Fund Management Hong Kong Co. Ltd. grew its position in Booking by 3,723.5% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 4,397 shares of the business services provider’s stock valued at $784,000 after acquiring an additional 4,282 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Booking by 1,421.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 118,423 shares of the business services provider’s stock valued at $21,108,000 after purchasing an additional 110,641 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 completion of the sale, the vice president directly owned 425,075 shares of the company’s stock, valued at $69,572,025.25. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the sale, the director directly owned 16,000 shares of the company’s stock, valued at approximately $3,200,000. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 89,625 shares of company stock worth $15,872,675. Corporate insiders own 0.17% of the company’s stock.

Booking Stock Down 0.6%

Shares of NASDAQ:BKNG opened at $212.06 on Friday. The company has a market cap of $159.34 billion, a PE ratio of 23.47, a P/E/G ratio of 1.29 and a beta of 1.07. The company’s 50-day moving average price is $184.00 and its 200 day moving average price is $177.04. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the business earned $55.40 earnings per share. Booking’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio is 18.58%.

Wall Street Analysts Forecast Growth

BKNG has been the subject of several research analyst reports. HSBC reduced their target price on Booking from $309.84 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Royal Bank Of Canada cut their target price on shares of Booking from $244.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Benchmark lifted their price target on Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets restated an “outperform” rating and set a $250.00 price objective (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and an average target price of $235.72.

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.