Booking Holdings Inc. $BKNG Stock: Park Avenue Securities LLC Boosts Position

Park Avenue Securities LLC raised its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,892 shares of the business services provider’s stock after purchasing an additional 3,816 shares during the period. Park Avenue Securities LLC’s holdings in Booking were worth $3,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BKNG. Bogart Wealth LLC increased its stake in shares of Booking by 3,475.0% in the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after buying an additional 139 shares during the last quarter. Wilkerson Advisory Group LLC boosted its stake in Booking by 3,550.0% during the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 142 shares during the last quarter. First Financial Corp IN boosted its stake in 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 acquiring an additional 144 shares during the last quarter. Roble Belko & Company Inc grew its holdings in 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. Finally, Kings Path Partners LLC acquired a new position in Booking during the 3rd quarter worth $29,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking News Roundup

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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BKNG. Mizuho set a $240.00 target price on shares of Booking in a research note on Wednesday, August 5th. Cantor Fitzgerald decreased their price target on Booking from $220.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Weiss Ratings raised Booking from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Rosenblatt Securities assumed coverage on Booking in a research note on Tuesday, September 1st. They set a “buy” rating and a $245.00 price objective on the stock. Finally, Evercore reaffirmed an “outperform” rating and set a $270.00 target price on shares of Booking in a report on Monday, August 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.07.

Insiders Place Their Bets

In related news, Director Robert Mylod, Jr. sold 1,000 shares of Booking 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 sale, the director directly owned 14,000 shares in the company, valued at $2,800,000. This trade represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the transaction, the vice president directly owned 375,025 shares of the company’s stock, valued at $77,851,439.75. The trade was a 11.77% 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 90 days, insiders have sold 78,425 shares of company stock worth $16,210,864. 0.17% of the stock is owned by company insiders.

Booking Trading Down 1.5%

NASDAQ:BKNG opened at $148.13 on Friday. The firm 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 Holdings Inc. has a 52 week low of $146.28 and a 52 week high of $220.81. The stock has a 50 day moving average of $171.26 and a 200-day moving average of $177.25.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $55.40 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Booking’s dividend payout ratio (DPR) is 18.58%.

Booking Company Profile

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.