NewEdge Advisors LLC Increases Stake in Booking Holdings Inc. (NASDAQ:BKNG)

NewEdge Advisors LLC grew its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,032 shares of the business services provider’s stock after acquiring an additional 130 shares during the period. NewEdge Advisors LLC’s holdings in Booking were worth $8,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new position in Booking in the fourth quarter worth approximately $25,000. Grove Bank & Trust grew its stake in shares of Booking by 133.3% during the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after purchasing an additional 4 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Booking during the 2nd quarter worth about $28,000. Kings Path Partners LLC acquired a new position in shares of Booking during the 2nd quarter worth about $28,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Booking in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Activity

In other news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the sale, the insider now owns 3,787 shares of the company’s stock, valued at $14,722,379.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn D. Fogel sold 750 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now owns 24,721 shares in the company, valued at approximately $100,556,375.65. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Booking Stock Performance

BKNG opened at $4,212.12 on Tuesday. Booking Holdings Inc. has a 1 year low of $2,733.04 and a 1 year high of $4,272.88. The company’s 50 day simple moving average is $3,795.60 and its 200 day simple moving average is $3,758.88. The stock has a market capitalization of $142.91 billion, a PE ratio of 31.59, a P/E/G ratio of 1.27 and a beta of 1.40.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. Booking had a negative return on equity of 200.87% and a net margin of 22.46%. The business had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm posted $37.62 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Booking Holdings Inc. will post 176.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $8.75 dividend. This represents a $35.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Booking’s payout ratio is currently 26.25%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Benchmark dropped their price target on shares of Booking from $4,700.00 to $4,600.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group lowered Booking from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $4,350.00 to $4,200.00 in a report on Wednesday, September 4th. Argus boosted their target price on Booking from $4,200.00 to $4,342.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. DA Davidson decreased their target price on Booking from $4,150.00 to $4,100.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush boosted their price objective on Booking from $3,850.00 to $4,200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Booking presently has an average rating of “Moderate Buy” and an average price target of $4,064.21.

Booking Company Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.