Proficio Capital Partners LLC Raises Stock Holdings in Booking Holdings Inc. $BKNG

Proficio Capital Partners LLC raised its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 6,434.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,313 shares of the business services provider’s stock after acquiring an additional 4,247 shares during the period. Proficio Capital Partners LLC’s holdings in Booking were worth $769,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock valued at $1,249,000 after purchasing an additional 65 shares during the period. Revolve Wealth Partners LLC bought a new stake in Booking in the 4th quarter worth approximately $209,000. Sivia Capital Partners LLC grew its position in Booking by 25.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock worth $955,000 after purchasing an additional 33 shares during the period. Schnieders Capital Management LLC. raised its stake in Booking by 50.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock valued at $504,000 after buying an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in Booking during the 2nd quarter valued at $179,000. 92.42% of the stock is currently owned by institutional investors.

Booking Stock Down 1.7%

Shares of BKNG opened at $195.69 on Wednesday. The business has a 50-day simple moving average of $193.34 and a two-hundred day simple moving average of $177.91. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $226.10. The stock has a market cap of $147.04 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.23 and a beta of 1.07.

Booking (NASDAQ:BKNG) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $55.40 EPS. On average, equities analysts anticipate 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 will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.9%. Booking’s dividend payout ratio (DPR) is currently 18.58%.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy rating and a $245 price target, implying approximately 25% upside from the referenced share price. The firm views Booking as the best-positioned online travel agency despite industry challenges, providing a potentially meaningful catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Zacks characterized Booking as a strong momentum stock based on its style-score framework, reinforcing the case that recent price and fundamental trends could attract momentum-oriented investors. Why Booking is a strong momentum stock
• Positive Sentiment: Erste Group Bank brokers raised their earnings estimates for Booking, suggesting improving expectations for the company’s future profitability. Higher forecasts can support valuation, although the article provides no details on the size or rationale of the revisions. Erste Group Bank lifts Booking earnings estimates
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The interview may offer insight into demand and booking patterns, but the available report does not specify whether the commentary was favorable or unfavorable for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Booking has lagged the broader market this year, which could weigh on investor sentiment and highlights concerns about online-travel-sector growth or valuation. Separately, director Paulo Pisano sold 3,000 shares worth about $610,440 under a pre-arranged Rule 10b5-1 plan; the planned nature of the transaction reduces its signaling value, but it remains a modest negative headline.

Analysts Set New Price Targets

Several brokerages recently commented on BKNG. UBS Group lifted their price objective on Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. BMO Capital Markets reissued an “outperform” rating and issued a $250.00 target price (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. B. Riley Financial restated a “buy” rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and set a $270.00 price target on shares of Booking in a research report on Monday, August 24th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $188.00 price objective on shares of Booking in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.70.

Insider Activity

In other news, Director Vanessa Ames Wittman sold 375 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the transaction, the director directly owned 16,133 shares in the company, valued at approximately $3,404,063. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. The trade was 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 80,550 shares of company stock valued at $16,722,744. Company insiders own 0.17% 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.