Tidal Investments LLC Acquires 212,288 Shares of Booking Holdings Inc. $BKNG

Tidal Investments LLC grew its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 1,951.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 223,168 shares of the business services provider’s stock after purchasing an additional 212,288 shares during the period. Tidal Investments LLC’s holdings in Booking were worth $43,030,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in Booking by 419,256.0% during the second quarter. California State Teachers Retirement System now owns 214,651,580 shares of the business services provider’s stock worth $38,259,498,000 after acquiring an additional 214,600,394 shares in the last quarter. BlackRock Inc. bought a new position in Booking in the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG acquired a new position in shares of Booking during the 2nd quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp acquired a new position in shares of Booking during the 2nd quarter worth approximately $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Booking by 2,525.5% during 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. Institutional investors own 92.42% of the company’s stock.

Trending Headlines about Booking

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

Analyst Ratings Changes

BKNG has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Booking in a report on Wednesday, August 26th. Jefferies Financial Group upped their price target on shares of Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Piper Sandler reiterated a “neutral” rating and issued a $215.00 price target (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. Truist Financial set a $242.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, Wedbush boosted their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Two investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.70.

Booking Trading Down 3.8%

NASDAQ BKNG opened at $173.43 on Thursday. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $225.00. The company has a 50 day moving average of $194.39 and a 200-day moving average of $178.77. The company has a market cap of $130.31 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.12 and a beta of 1.07.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the company posted $55.40 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Announces Dividend

The business 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is currently 18.58%.

Insider Buying and Selling

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their position. The sale 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, VP Peter J. Millones sold 50,050 shares of Booking 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 transaction, the vice president directly owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% 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. Over the last ninety days, insiders have sold 81,550 shares of company stock valued at $16,922,744. 0.17% of the stock is currently owned by company insiders.

Booking Company Profile

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.