Invst LLC Makes New Investment in Booking Holdings Inc. (NASDAQ:BKNG)

Invst LLC purchased a new position in Booking Holdings Inc. (NASDAQ:BKNG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 53 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Wealth Strategies LLC. purchased a new position in shares of Booking in the 2nd quarter worth $301,000. NewEdge Advisors LLC boosted its stake in shares of Booking by 6.8% in the 2nd quarter. NewEdge Advisors LLC now owns 2,032 shares of the business services provider’s stock worth $8,050,000 after buying an additional 130 shares during the last quarter. Creative Planning boosted its stake in shares of Booking by 17.3% in the 2nd quarter. Creative Planning now owns 4,396 shares of the business services provider’s stock worth $17,414,000 after buying an additional 649 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Booking in the 2nd quarter worth $125,615,000. Finally, Algert Global LLC boosted its stake in shares of Booking by 34.5% in the 2nd quarter. Algert Global LLC now owns 117 shares of the business services provider’s stock worth $463,000 after buying an additional 30 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Trading Down 0.8 %

Shares of BKNG stock opened at $4,212.12 on Tuesday. The stock’s 50-day moving average price is $3,795.60 and its 200-day moving average price is $3,758.88. Booking Holdings Inc. has a 12-month low of $2,733.04 and a 12-month high of $4,272.88. The stock has a market capitalization of $142.91 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40.

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

Booking Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on Booking from $4,300.00 to $3,900.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America lowered their target price on Booking from $3,950.00 to $3,750.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus lifted their target price on Booking from $4,200.00 to $4,342.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Oppenheimer lowered their target price on Booking from $4,600.00 to $4,200.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $3,590.00 target price on shares of Booking in a research report on Monday. Eleven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,064.21.

Insiders Place Their Bets

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

Booking 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.