Cidel Asset Management Inc. Purchases 3,262 Shares of Booking Holdings Inc. $BKNG

Cidel Asset Management Inc. grew its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,836.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,377 shares of the business services provider’s stock after purchasing an additional 3,262 shares during the quarter. Cidel Asset Management Inc.’s holdings in Booking were worth $602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. lifted its holdings in Booking by 1.7% during the second quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider’s stock worth $700,000 after acquiring an additional 2 shares in the last quarter. Radnor Capital Management LLC increased its holdings in shares of Booking by 0.6% in the fourth quarter. Radnor Capital Management LLC now owns 534 shares of the business services provider’s stock worth $2,860,000 after acquiring an additional 3 shares in the last quarter. MJP Associates Inc. ADV raised its position in shares of Booking by 6.1% during the fourth quarter. MJP Associates Inc. ADV now owns 52 shares of the business services provider’s stock worth $278,000 after purchasing an additional 3 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Booking by 1.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 158 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 3 shares in the last quarter. Finally, Goldstein Advisors LLC lifted its holdings in shares of Booking by 7.9% during the 4th quarter. Goldstein Advisors LLC now owns 41 shares of the business services provider’s stock valued at $220,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analysts Set New Price Targets

BKNG has been the subject of several research analyst reports. Benchmark boosted 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. Cantor Fitzgerald lifted their price target on shares of Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price target on shares of Booking and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Wedbush increased their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Argus raised their price objective on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.70.

Booking Stock Down 3.8%

Shares of BKNG opened at $173.43 on Thursday. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $225.00. The stock has a market capitalization of $130.31 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.12 and a beta of 1.07. The company has a 50 day moving average of $194.39 and a 200-day moving average of $178.77.

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, beating 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 business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the firm earned $55.40 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio is presently 18.58%.

Insider Activity

In other Booking news, VP Peter J. Millones sold 50,050 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the sale, the vice president owned 375,025 shares in the company, valued at $77,851,439.75. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Booking stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total value of $1,000,000.00. Following the transaction, the director owned 16,000 shares of the company’s stock, valued at $3,200,000. The trade was a 23.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 81,550 shares of company stock valued at $16,922,744. Corporate insiders own 0.17% of the company’s stock.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Travel demand remains relatively resilient despite geopolitical conflicts and a slower macroeconomic environment, supporting the outlook for Booking’s accommodation and travel-reservation businesses. Booking Holdings Stock: A Travel Stock to Buy Right Now?
• Positive Sentiment: Analyst-oriented coverage continues to characterize Booking as a growth stock, reflecting its scale, profitability and potential for continued expansion in online travel. The company’s most recent reported quarter also exceeded earnings and revenue expectations, providing fundamental support. Why Booking Holdings Is a Strong Growth Stock
• Neutral Sentiment: Booking executives recently participated in Goldman Sachs and Citi technology conferences. The transcripts may provide insight into demand trends, artificial intelligence, competition and capital allocation, but the available headlines do not identify a specific new forecast or material change in guidance. Goldman Sachs Conference Transcript Citi Conference Transcript
• Negative Sentiment: The European court rejected Booking’s challenge to the EU veto of its ETraveli acquisition, effectively ending the company’s effort to purchase the flight-booking platform. The ruling removes a potential avenue for expansion and could weigh on investor sentiment regarding Booking’s regulatory exposure and acquisition strategy. Booking Loses Court Fight Against EU Veto of ETraveli Deal

About Booking

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.