138,680 Shares of Booking Holdings Inc. $BKNG Purchased by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. bought a new stake in Booking Holdings Inc. (NASDAQ:BKNG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 138,680 shares of the business services provider’s stock, valued at approximately $22,592,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Leonard Rickey Investment Advisors P.L.L.C. increased its position in shares of Booking by 7.4% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,890 shares of the business services provider’s stock worth $960,000 after acquiring an additional 405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Booking in the 3rd quarter valued at about $94,957,000. Vise Technologies Inc. boosted its holdings in shares of Booking by 11.7% during the third quarter. Vise Technologies Inc. now owns 38,436 shares of the business services provider’s stock worth $6,262,000 after acquiring an additional 4,011 shares during the period. Cidel Asset Management Inc. boosted its position in shares of Booking by 8.6% in the third quarter. Cidel Asset Management Inc. now owns 3,669 shares of the business services provider’s stock valued at $598,000 after acquiring an additional 292 shares during the period. Finally, Summit Global Investments increased its position in Booking by 21.7% during the third quarter. Summit Global Investments now owns 13,019 shares of the business services provider’s stock worth $2,121,000 after acquiring an additional 2,318 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Analysts Set New Price Targets

A number of research firms recently commented on BKNG. Morgan Stanley set a $230.00 price target on Booking and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Melius Research set a $225.00 price objective on Booking in a report on Tuesday, October 20th. Bank of America restated a “buy” rating on shares of Booking in a research report on Monday, October 26th. Argus boosted their price objective on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Evercore restated an “outperform” rating and issued a $270.00 price objective on shares of Booking in a report on Monday, August 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.07.

Booking Stock Performance

BKNG stock opened at $148.13 on Monday. The business has a 50-day simple moving average of $171.26 and a two-hundred day simple moving average of $177.25. Booking Holdings Inc. has a 52-week low of $146.28 and a 52-week high of $220.81. The company has a market capitalization of $111.30 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period last year, the business posted $55.40 earnings per share. Booking’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction on 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 sale, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 that occurred on 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 owned 59,794 shares in the company, valued at $12,618,327.82. This trade represents a 25.06% 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. Over the last 90 days, insiders sold 78,425 shares of company stock valued at $16,210,864. 0.17% of the stock is currently owned by insiders.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.