Booking Holdings Inc. $BKNG Shares Sold by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC cut its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 52.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,109 shares of the business services provider’s stock after selling 11,107 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Booking were worth $1,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKNG. Allworth Financial LP lifted its stake in Booking by 1,615.6% in the 2nd quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock worth $2,483,000 after acquiring an additional 13,119 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in Booking during the 2nd quarter worth about $11,687,000. MBM Wealth Consultants LLC grew its stake in Booking by 2,860.8% during the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock valued at $2,238,000 after acquiring an additional 12,130 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Booking by 2,549.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock valued at $16,077,000 after acquiring an additional 85,592 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Booking by 4,630.9% in the 2nd quarter. QRG Capital Management Inc. now owns 24,175 shares of the business services provider’s stock valued at $4,309,000 after purchasing an additional 23,664 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Insider Buying and Selling

In other Booking news, insider Paulo Pisano sold 1,500 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $163.06, for a total transaction of $244,590.00. Following the transaction, the insider directly owned 70,400 shares of the company’s stock, valued at $11,479,424. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 14,000 shares in the company, valued at approximately $2,800,000. This trade represents a 6.67% decrease in their ownership of the stock. 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 sold 78,425 shares of company stock valued at $16,210,864. 0.17% of the stock is owned by company insiders.

Booking Price Performance

BKNG opened at $148.13 on Friday. Booking Holdings Inc. has a fifty-two week low of $146.28 and a fifty-two week high of $220.81. The business has a 50-day moving average of $171.26 and a 200-day moving average of $177.25. The company has a market capitalization of $111.30 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13.

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

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were paid a $0.42 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. Booking’s payout ratio is 18.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BKNG. Citigroup reissued a “market perform” rating on shares of Booking in a research report on Thursday, September 24th. DA Davidson set a $240.00 price objective on shares of Booking in a research report on Thursday, August 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. Wells Fargo & Company reiterated a “reduce” rating and issued a $190.00 price objective (down from $220.00) on shares of Booking in a research note on Wednesday, October 7th. Finally, Melius Research set a $225.00 target price on shares of Booking in a research report on Tuesday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $233.07.

About Booking

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.