Chemistry Wealth Management LLC Purchases 18,085 Shares of Booking Holdings Inc. $BKNG

Chemistry Wealth Management LLC increased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,398.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 18,839 shares of the business services provider’s stock after acquiring an additional 18,085 shares during the period. Chemistry Wealth Management LLC’s holdings in Booking were worth $3,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its stake in Booking by 191,965.8% in the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock valued at $15,171,489,000 after acquiring an additional 2,831,495 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Booking by 1,497.3% during the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock worth $3,665,168,000 after purchasing an additional 816,022 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Booking by 66,209.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 659,783 shares of the business services provider’s stock worth $117,600,000 after purchasing an additional 658,788 shares during the last quarter. Norges Bank bought a new position in shares of Booking during the 4th quarter valued at $3,271,041,000. Finally, Czech National Bank raised its holdings in shares of Booking by 2,412.4% during the 2nd quarter. Czech National Bank now owns 220,560 shares of the business services provider’s stock valued at $39,313,000 after purchasing an additional 211,781 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Booking Trading Up 3.4%

NASDAQ:BKNG opened at $214.42 on Friday. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80. The firm’s fifty day simple moving average is $179.43 and its 200 day simple moving average is $176.56. The firm has a market capitalization of $161.11 billion, a PE ratio of 23.73, a PEG ratio of 1.31 and a beta of 1.07.

Booking (NASDAQ:BKNG) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

BKNG has been the subject of a number of recent research reports. Wedbush upped their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. cut their target price on Booking from $224.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. DA Davidson set a $240.00 price target on Booking in a research report on Thursday. TD Cowen reiterated a “buy” rating and set a $230.00 price target (down from $240.00) on shares of Booking in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised Booking from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $234.69.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Insider Buying and Selling

In related news, VP Peter J. Millones sold 62,500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the sale, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. This represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the completion of the sale, the director directly owned 16,000 shares in the company, valued at $3,200,000. This trade represents a 23.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 69,625 shares of company stock valued at $11,652,075. Insiders own 0.17% of the company’s stock.

About Booking

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.