Meadowbrook Wealth Management LLC Makes New Investment in Booking Holdings Inc. $BKNG

Meadowbrook Wealth Management LLC bought a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 150 shares of the business services provider’s stock, valued at approximately $810,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKNG. Y Intercept Hong Kong Ltd raised its position in shares of Booking by 15.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 511 shares of the business services provider’s stock worth $2,958,000 after buying an additional 69 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Booking by 18.6% in the 2nd quarter. Vontobel Holding Ltd. now owns 75,534 shares of the business services provider’s stock worth $437,284,000 after acquiring an additional 11,829 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Booking by 67.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 30,210 shares of the business services provider’s stock valued at $174,893,000 after acquiring an additional 12,148 shares in the last quarter. Covey Capital Advisors LLC raised its holdings in shares of Booking by 1.0% in the 2nd quarter. Covey Capital Advisors LLC now owns 1,117 shares of the business services provider’s stock valued at $6,467,000 after acquiring an additional 11 shares in the last quarter. Finally, Atria Investments Inc boosted its position in shares of Booking by 12.7% during the 2nd quarter. Atria Investments Inc now owns 2,291 shares of the business services provider’s stock valued at $13,262,000 after acquiring an additional 259 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Booking from $5,640.00 to $6,050.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. BNP Paribas Exane initiated coverage on shares of Booking in a report on Monday, November 24th. They issued an “outperform” rating and a $6,100.00 price target on the stock. Wedbush raised shares of Booking from a “neutral” rating to an “outperform” rating and set a $6,000.00 price objective for the company in a report on Thursday, November 13th. Gordon Haskett upped their target price on shares of Booking from $5,620.00 to $5,710.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. Finally, Rothschild & Co Redburn raised their price target on Booking from $6,250.00 to $6,400.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6,149.23.

Booking Stock Performance

BKNG stock opened at $5,394.36 on Friday. The firm has a market cap of $173.86 billion, a P/E ratio of 35.06, a P/E/G ratio of 1.35 and a beta of 1.25. The firm’s fifty day moving average is $5,077.53 and its 200 day moving average is $5,375.97. Booking Holdings Inc. has a 52 week low of $4,096.23 and a 52 week high of $5,839.41.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Tuesday, October 28th. The business services provider reported $99.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $95.56 by $3.94. The firm had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $83.39 earnings per share. As a group, analysts forecast that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a dividend of $9.60 per share. This represents a $38.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, December 5th. Booking’s dividend payout ratio (DPR) is presently 24.96%.

Insider Buying and Selling

In other news, Director Robert J. Mylod, Jr. sold 40 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total value of $200,000.00. Following the transaction, the director owned 960 shares in the company, valued at approximately $4,800,000. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paulo Pisano sold 200 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total transaction of $1,000,000.00. Following the sale, the insider owned 1,514 shares of the company’s stock, valued at $7,570,000. This represents a 11.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,324 shares of company stock valued at $17,193,557 over the last quarter. Company insiders own 0.16% of the company’s stock.

Booking Profile

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.