Spinnaker Trust Purchases 3,507 Shares of Booking Holdings Inc. $BKNG

Spinnaker Trust grew its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,402.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,653 shares of the business services provider’s stock after buying an additional 3,507 shares during the quarter. Spinnaker Trust’s holdings in Booking were worth $651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC increased its holdings in Booking by 3,475.0% during the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after purchasing an additional 139 shares during the period. Wilkerson Advisory Group LLC boosted its stake in Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares in the last quarter. Osbon Capital Management LLC purchased a new stake in Booking in the fourth quarter valued at approximately $27,000. First Financial Corp IN raised its stake in shares of Booking by 2,400.0% during the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after buying an additional 144 shares during the last quarter. Finally, Roble Belko & Company Inc boosted its stake in shares of Booking by 2,400.0% during the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock worth $27,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm’s stock in a transaction 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 sale, the director owned 16,000 shares in the company, valued at $3,200,000. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This represents a 25.06% 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 90 days, insiders have sold 77,550 shares of company stock valued at $16,112,304. Insiders own 0.17% of the company’s stock.

Booking Trading Up 1.5%

Shares of NASDAQ:BKNG opened at $205.63 on Friday. The firm has a 50 day simple moving average of $192.18 and a 200-day simple moving average of $177.64. The company has a market capitalization of $154.51 billion, a PE ratio of 22.76, a P/E/G ratio of 1.24 and a beta of 1.07. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $226.10.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $55.40 earnings per share. As a group, equities research analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. Booking’s payout ratio is 18.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BKNG shares. Bank of America restated a “buy” rating and issued a $234.00 target price on shares of Booking in a research report on Wednesday, August 5th. DA Davidson set a $240.00 price target on Booking in a report on Thursday, August 6th. Jefferies Financial Group boosted their price target on shares of Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Susquehanna restated a “positive” rating and set a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Finally, BTIG Research reiterated a “buy” rating and issued a $250.00 price objective on shares of Booking in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and an average target price of $236.45.

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.