XML Financial LLC Boosts Stock Position in Booking Holdings Inc. $BKNG

XML Financial LLC increased its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,530.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,577 shares of the business services provider’s stock after buying an additional 4,403 shares during the period. XML Financial LLC’s holdings in Booking were worth $816,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BKNG. Symphony Financial Ltd. Co. lifted its position in Booking by 2,405.9% during the second quarter. Symphony Financial Ltd. Co. now owns 2,982 shares of the business services provider’s stock valued at $542,000 after purchasing an additional 2,863 shares during the last quarter. Independence Bank of Kentucky increased its holdings in shares of Booking by 2,400.0% in the 2nd quarter. Independence Bank of Kentucky now owns 250 shares of the business services provider’s stock worth $45,000 after buying an additional 240 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its position in shares of Booking by 2,400.0% during the 2nd quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,000 shares of the business services provider’s stock valued at $356,000 after buying an additional 1,920 shares in the last quarter. Triumph Capital Management raised its position in shares of Booking by 1,700.0% during the 2nd quarter. Triumph Capital Management now owns 198 shares of the business services provider’s stock valued at $35,000 after buying an additional 187 shares in the last quarter. Finally, Solstein Capital LLC lifted its holdings in shares of Booking by 2,400.0% in the 2nd quarter. Solstein Capital LLC now owns 225 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
• Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales

Booking Price Performance

Shares of NASDAQ:BKNG opened at $199.60 on Thursday. The firm has a market capitalization of $149.98 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The business has a 50 day simple moving average of $193.71 and a two-hundred day simple moving average of $178.12. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $226.10.

Booking (NASDAQ:BKNG) last issued 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. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the business posted $55.40 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that Booking Holdings Inc. will post 10.48 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. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking’s dividend payout ratio (DPR) is presently 18.58%.

Insider Buying and Selling at Booking

In other news, VP Peter J. Millones sold 50,050 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total value of $10,389,879.50. Following the transaction, the vice president directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 firm’s stock in a transaction dated Wednesday, August 12th. The stock was 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 in the company, valued at $12,618,327.82. This represents a 25.06% 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. In the last 90 days, insiders sold 81,550 shares of company stock valued at $16,922,744. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BKNG. Rosenblatt Securities initiated coverage on Booking in a research note on Tuesday. They set a “buy” rating and a $245.00 price objective on the stock. Bank of America reiterated a “buy” rating and issued a $234.00 target price on shares of Booking in a report on Wednesday, August 5th. BMO Capital Markets reissued an “outperform” rating and set a $250.00 target price (up from $240.00) on shares of Booking in a research report on Wednesday, August 5th. Piper Sandler restated a “neutral” rating and set a $215.00 price target (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. Finally, Wedbush raised their price target on Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.70.

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.