Summit Global Investments Invests $1.91 Million in Booking Holdings Inc. $BKNG

Summit Global Investments bought a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the 2nd quarter, Holdings Channel.com reports. The firm bought 10,701 shares of the business services provider’s stock, valued at approximately $1,907,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKNG. Bogart Wealth LLC lifted its holdings in Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after purchasing an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC grew its holdings 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 buying an additional 142 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Booking during the 4th quarter valued at approximately $27,000. Osbon Capital Management LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $27,000. Finally, First Financial Corp IN raised its position in shares of Booking by 2,400.0% during the second quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after buying an additional 144 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

Wall Street Analysts Forecast Growth

BKNG has been the topic of several research analyst reports. 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. Cantor Fitzgerald raised their target price on shares of Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Jefferies Financial Group lifted their price target on shares of Booking from $180.00 to $190.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Booking from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Finally, Susquehanna reissued a “positive” rating and set a $240.00 price objective on shares of Booking in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.72.

Booking Stock Performance

NASDAQ BKNG opened at $212.06 on Monday. The company has a market capitalization of $159.34 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.28 and a beta of 1.07. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The stock has a 50 day moving average price of $184.00 and a 200-day moving average price of $176.65.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. Booking’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $55.40 earnings per share. As a group, equities analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. Booking’s payout ratio is 18.58%.

Insider Buying and Selling at Booking

In related news, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction dated 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 approximately $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Booking stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. This represents a 6.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 89,625 shares of company stock valued at $15,872,675. Corporate insiders own 0.17% of the company’s stock.

Booking Company 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.