XML Financial LLC Purchases 4,403 Shares of Booking Holdings Inc. $BKNG

XML Financial LLC grew its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,530.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,577 shares of the business services provider’s stock after purchasing an additional 4,403 shares during the quarter. XML Financial LLC’s holdings in Booking were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BKNG. BlackRock Inc. purchased a new stake in Booking during the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG bought a new stake in shares of Booking during the 2nd quarter valued at $1,691,186,000. Bank of New York Mellon Corp bought a new stake in shares of Booking during the 2nd quarter valued at $1,370,455,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Booking by 2,525.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock worth $1,087,597,000 after purchasing an additional 5,869,459 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Booking in the 2nd quarter worth $992,026,000. Institutional investors own 92.42% of the company’s stock.

Booking Stock Up 2.0%

Shares of Booking stock opened at $199.60 on Thursday. The company has a market capitalization of $149.98 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.21 and a beta of 1.07. The stock’s 50-day simple moving average is $193.71 and its 200-day simple moving average is $178.12. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $226.10.

Booking (NASDAQ:BKNG) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $55.40 earnings per share. On average, equities analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Booking in a research report on Wednesday, August 26th. BTIG Research reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Booking in a research note on Thursday, August 27th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $188.00 price objective on shares of Booking in a research report on Wednesday, August 26th. Jefferies Financial Group increased their target price on shares of Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Finally, Bank of America restated a “buy” rating and set a $234.00 target price on shares of Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.70.

Insider Activity

In other Booking news, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction on Monday, August 31st. The shares were sold at an average price of $203.48, for a total value of $610,440.00. Following the sale, the insider directly owned 73,400 shares in the company, valued at approximately $14,935,432. The trade was a 3.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the sale, the vice president owned 375,025 shares in the company, valued at approximately $77,851,439.75. The trade was a 11.77% 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. Over the last 90 days, insiders have sold 81,550 shares of company stock valued at $16,922,744. Company insiders own 0.17% of the company’s stock.

Booking News Roundup

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 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.