PCM Encore LLC Invests $503,000 in Booking Holdings Inc. $BKNG

PCM Encore LLC bought a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,822 shares of the business services provider’s stock, valued at approximately $503,000.

Several other hedge funds have also recently bought and sold shares of the business. Trillium Asset Management LLC acquired a new position in Booking during the second quarter valued at approximately $21,246,000. Vise Technologies Inc. acquired a new stake in shares of Booking in the second quarter worth $6,136,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Booking in the second quarter worth $1,228,000. E Fund Management Co. Ltd. purchased a new position in shares of Booking in the 2nd quarter valued at $5,358,000. Finally, MSH Capital Advisors LLC purchased a new position in shares of Booking in the 2nd quarter valued at $471,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BKNG. B. Riley Financial restated a “buy” rating and set a $274.00 target price (up from $264.00) on shares of Booking in a report on Wednesday, August 5th. JPMorgan Chase & Co. lowered their price target on Booking from $224.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Jefferies Financial Group raised their price objective on Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Evercore set a $245.00 price objective on Booking in a research note on Wednesday, April 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $234.00 target price on shares of Booking in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.72.

Booking Trading Down 1.5%

Shares of BKNG stock opened at $209.87 on Friday. The firm has a fifty day simple moving average of $187.71 and a 200-day simple moving average of $177.15. The company has a market capitalization of $157.69 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $231.80.

Booking (NASDAQ:BKNG) last released its quarterly 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. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the firm posted $55.40 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current 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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s payout ratio is presently 18.58%.

Insiders Place Their Bets

In related news, VP Peter J. Millones sold 50,050 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the transaction, the vice president owned 375,025 shares of the company’s stock, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 375 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the sale, the director owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. This trade represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,050 shares of company stock valued at $26,341,680 in the last three months. 0.17% of the stock is owned by insiders.

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.