Wellington Management Group LLP Purchases 538,225 Shares of Booking Holdings Inc. $BKNG

Wellington Management Group LLP raised its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,066.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 564,270 shares of the business services provider’s stock after purchasing an additional 538,225 shares during the period. Wellington Management Group LLP’s holdings in Booking were worth $100,575,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Booking in the 2nd quarter worth about $13,671,000. Archer Investment Corp bought a new stake in Booking during the second quarter worth about $45,000. Kingsview Wealth Management LLC purchased a new stake in Booking in the second quarter worth about $3,540,000. Beacon Pointe Advisors LLC purchased a new stake in Booking in the second quarter worth about $15,641,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Booking during the second quarter valued at approximately $18,278,000. Institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling at Booking

In other Booking news, insider Paulo Pisano sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the sale, the insider owned 73,400 shares in the company, valued at approximately $14,935,432. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 80,550 shares of company stock valued at $16,722,744 in the last quarter. Insiders own 0.17% of the company’s stock.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy rating and a $245 price target, implying approximately 25% upside from the referenced share price. The firm views Booking as the best-positioned online travel agency despite industry challenges, providing a potentially meaningful catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Zacks characterized Booking as a strong momentum stock based on its style-score framework, reinforcing the case that recent price and fundamental trends could attract momentum-oriented investors. Why Booking is a strong momentum stock
• Positive Sentiment: Erste Group Bank brokers raised their earnings estimates for Booking, suggesting improving expectations for the company’s future profitability. Higher forecasts can support valuation, although the article provides no details on the size or rationale of the revisions. Erste Group Bank lifts Booking earnings estimates
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The interview may offer insight into demand and booking patterns, but the available report does not specify whether the commentary was favorable or unfavorable for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Booking has lagged the broader market this year, which could weigh on investor sentiment and highlights concerns about online-travel-sector growth or valuation. Separately, director Paulo Pisano sold 3,000 shares worth about $610,440 under a pre-arranged Rule 10b5-1 plan; the planned nature of the transaction reduces its signaling value, but it remains a modest negative headline.

Booking Price Performance

BKNG stock opened at $195.69 on Wednesday. The stock has a market capitalization of $147.04 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.23 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $226.10. The business has a fifty day moving average price of $193.34 and a 200-day moving average price of $177.91.

Booking (NASDAQ:BKNG) last released its quarterly earnings data 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 company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period last year, the company earned $55.40 EPS. Booking’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Dividend Announcement

The firm also recently announced 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 yield of 0.9%. The ex-dividend date is Friday, September 11th. Booking’s payout ratio is 18.58%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BKNG shares. Mizuho set a $240.00 target price on shares of Booking in a report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price target on Booking and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Benchmark raised their price objective on Booking from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Booking in a research note on Wednesday, August 26th. Finally, Bank of America reissued a “buy” rating and issued a $234.00 target price on shares of Booking in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.70.

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.