Edmond DE Rothschild Holding S.A. Makes New Investment in Booking Holdings Inc. $BKNG

Edmond DE Rothschild Holding S.A. bought a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,039 shares of the business services provider’s stock, valued at approximately $898,000.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Booking in the 2nd quarter valued at about $11,646,302,000. Deutsche Bank AG purchased a new position in Booking during the second quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking during the second quarter worth approximately $1,370,455,000. J. Stern & Co. LLP grew its holdings 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 purchasing an additional 2,831,495 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Booking in the second quarter valued at approximately $472,723,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Price Performance

NASDAQ BKNG opened at $209.87 on Friday. The stock’s 50 day simple moving average is $187.71 and its 200-day simple moving average is $177.15. The company has a market cap of $157.69 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $231.80.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the business earned $55.40 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Booking Holdings Inc. will post 10.47 EPS for the current fiscal year.

Booking Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BKNG shares. UBS Group upped their target price on Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. HSBC dropped their price target on shares of Booking from $309.84 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. BTIG Research reaffirmed a “buy” rating and set a $250.00 price objective on shares of Booking in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald lifted their target price on shares of Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.72.

Insider Buying and Selling at Booking

In related news, Director Vanessa Ames Wittman sold 375 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the transaction, the director directly owned 16,133 shares in the company, valued at approximately $3,404,063. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total transaction of $206,700.00. Following the sale, the director directly owned 15,000 shares of the company’s stock, valued at approximately $3,100,500. This represents a 6.25% 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. Insiders sold 140,050 shares of company stock worth $26,341,680 over the last three months. 0.17% of the stock is owned by corporate insiders.

Booking Company 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.