SWP Investment Management LLC Raises Holdings in Booking Holdings Inc. $BKNG

SWP Investment Management LLC grew its position in Booking Holdings Inc. (NASDAQ:BKNG) by 3,471.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,715 shares of the business services provider’s stock after acquiring an additional 15,275 shares during the quarter. Booking makes up approximately 1.9% of SWP Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. SWP Investment Management LLC’s holdings in Booking were worth $2,801,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BKNG. Vanguard Group Inc. grew its stake in Booking by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider’s stock worth $16,055,006,000 after buying an additional 23,159 shares during the period. J. Stern & Co. LLP lifted its holdings in shares of Booking by 191,965.8% during the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock valued at $15,171,489,000 after acquiring an additional 2,831,495 shares in the last quarter. State Street Corp increased its holdings in Booking by 0.5% in the 4th quarter. State Street Corp now owns 1,435,116 shares of the business services provider’s stock valued at $7,685,520,000 after purchasing an additional 6,976 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Booking by 15.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 966,121 shares of the business services provider’s stock valued at $5,173,899,000 after purchasing an additional 128,700 shares during the period. Finally, 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. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $192.71 on Tuesday. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The company has a market capitalization of $149.33 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The stock has a fifty day moving average of $176.34 and a 200-day moving average of $176.70.

Insider Activity

In other Booking news, VP Peter J. Millones sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value 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 represents a 12.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 firm’s stock in a transaction dated Wednesday, July 29th. The stock was 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 $3,200,000. This trade 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. Insiders have sold 68,625 shares of company stock worth $11,445,375 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

BKNG has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Booking from $248.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Booking in a research note on Thursday, June 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $175.00 target price (down from $180.00) on shares of Booking in a research report on Wednesday, April 29th. Robert W. Baird reduced their price target on shares of Booking from $234.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, B. Riley Financial decreased their price objective on shares of Booking from $272.00 to $264.00 and set a “buy” rating for the company in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and a consensus price target of $227.23.

About Booking

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.