Swiss National Bank Sells 4,970 Shares of Booking Holdings Inc. $BKNG

Swiss National Bank lowered its position in Booking Holdings Inc. (NASDAQ:BKNG) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,814 shares of the business services provider’s stock after selling 4,970 shares during the quarter. Swiss National Bank owned about 0.28% of Booking worth $475,628,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BKNG. Brighton Jones LLC increased its holdings in shares of Booking by 34.9% in the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after purchasing an additional 65 shares during the period. Revolve Wealth Partners LLC purchased a new position in Booking in the fourth quarter worth $209,000. Sivia Capital Partners LLC grew its position in Booking by 25.0% in the second quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock worth $955,000 after acquiring an additional 33 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Booking by 50.0% in the second quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock worth $504,000 after acquiring an additional 29 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in Booking in the second quarter worth $179,000. Institutional investors own 92.42% of the company’s stock.

Key Headlines Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Analyst coverage remains constructive, with Booking Holdings carrying a consensus recommendation of “Moderate Buy”, which may help support the stock. Booking Holdings Inc. (NASDAQ:BKNG) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Positive Sentiment: Several brokerage-related articles reiterated that analysts still generally view BKNG favorably, suggesting Wall Street sees upside despite the pullback. Brokers Suggest Investing in Booking Holdings (BKNG): Read This Before Placing a Bet
• Positive Sentiment: Dodge & Cox reportedly initiated a position in Booking Holdings, a sign that some institutional investors see value in the stock after its decline. Dodge and Cox Fund Initiated Booking Holdings (BKNG) on Overlooked Advantage
• Neutral Sentiment: New commentary is questioning whether BKNG is now a bargain or a value trap after a roughly 25% share-price slide, which could keep traders cautious until fundamentals improve. Is It Time To Reassess Booking Holdings (BKNG) After A 25% Share Price Slide?
• Neutral Sentiment: Market recap pieces noted BKNG has been falling faster than the broader market, reinforcing the recent weakness but not pointing to a new fundamental catalyst. Booking Holdings (BKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: The stock’s recent decline and weak year-to-date performance are weighing on sentiment, as investors appear to be reassessing growth expectations and valuation. Booking Holdings (BKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Booking Stock Up 1.8%

NASDAQ BKNG opened at $163.59 on Friday. The company has a 50-day simple moving average of $169.49 and a two-hundred day simple moving average of $184.26. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $233.58. The firm has a market cap of $126.76 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 0.96 and a beta of 1.08.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The company’s revenue was up 16.2% on a year-over-year basis. Equities analysts expect that Booking Holdings Inc. will post 10.44 earnings per share for the current fiscal year.

Booking Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 5th. Booking’s dividend payout ratio is presently 22.11%.

Insider Buying and Selling at Booking

In other Booking news, CEO Glenn D. Fogel sold 16,726 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $185.36, for a total transaction of $3,100,331.36. Following the completion of the sale, the chief executive officer directly owned 298,174 shares in the company, valued at $55,269,532.64. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the sale, the director owned 16,050 shares of the company’s stock, valued at approximately $3,081,600. The trade was a 6.55% 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 sold a total of 97,076 shares of company stock worth $16,417,121 over the last three months. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BKNG has been the subject of several research reports. Evercore set a $245.00 target price on shares of Booking in a research report on Wednesday, April 29th. Tigress Financial reiterated a “strong-buy” rating and issued a $260.00 target price (up from $244.00) on shares of Booking in a research report on Wednesday, April 8th. BTIG Research reiterated a “buy” rating and issued a $250.00 target price on shares of Booking in a research report on Friday, May 29th. Citigroup cut their target price on shares of Booking from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company set a $215.00 target price on shares of Booking and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.14.

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.