Munich Reinsurance Co Stock Corp in Munich Has $6.05 Million Stock Holdings in Booking Holdings Inc. $BKNG

Munich Reinsurance Co Stock Corp in Munich reduced its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 85.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,437 shares of the business services provider’s stock after selling 8,258 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Booking were worth $6,050,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BKNG. KERR FINANCIAL PLANNING Corp bought a new stake in Booking in the 3rd quarter valued at about $26,000. Daytona Street Capital LLC bought a new position in Booking in the fourth quarter worth approximately $27,000. Legacy Bridge LLC acquired a new stake in Booking in the fourth quarter valued at approximately $27,000. Camelot Portfolios LLC acquired a new stake in Booking in the fourth quarter valued at approximately $27,000. Finally, Osbon Capital Management LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BKNG shares. JPMorgan Chase & Co. lowered their target price on Booking from $224.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Gordon Haskett boosted their price target on shares of Booking from $217.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. DA Davidson lowered their price objective on shares of Booking from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. BTIG Research restated a “buy” rating and set a $250.00 price objective on shares of Booking in a report on Friday, May 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective (down from $240.00) on shares of Booking in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.11.

Insiders Place Their Bets

In other Booking news, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director owned 16,050 shares of the company’s stock, valued at $3,081,600. This trade represents a 6.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. The trade was a 12.82% 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. In the last ninety days, insiders sold 80,351 shares of company stock valued at $13,545,706. Corporate insiders own 0.16% of the company’s stock.

Booking Trading Down 4.2%

Shares of Booking stock opened at $174.29 on Thursday. The company has a market capitalization of $135.05 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The stock has a fifty day simple moving average of $168.59 and a 200 day simple moving average of $181.02. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80.

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

Booking Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, June 5th. This represents a $1.68 annualized dividend and a yield of 1.0%. Booking’s payout ratio is 22.11%.

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.