Booking’s (BKNG) Buy Rating Reiterated at BTIG Research

by · The Cerbat Gem

BTIG Research restated their buy rating on shares of Booking (NASDAQ:BKNGFree Report) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $6,250.00 target price on the business services provider’s stock.

Other equities research analysts have also issued research reports about the company. Mizuho set a $6,000.00 price objective on Booking in a research report on Wednesday, October 29th. Seaport Global Securities increased their price target on shares of Booking from $6,030.00 to $6,260.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Bank of America raised shares of Booking from a “neutral” rating to a “buy” rating and set a $6,000.00 price objective for the company in a report on Monday, November 24th. Wells Fargo & Company increased their target price on shares of Booking from $5,443.00 to $5,523.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Wedbush upgraded Booking from a “neutral” rating to an “outperform” rating and set a $6,000.00 price target for the company in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Booking has an average rating of “Moderate Buy” and an average target price of $6,149.23.

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Booking Stock Performance

NASDAQ:BKNG opened at $5,426.52 on Tuesday. The firm’s fifty day moving average is $5,100.17 and its two-hundred day moving average is $5,372.37. The firm has a market cap of $174.90 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 1.37 and a beta of 1.25. Booking has a one year low of $4,096.23 and a one year high of $5,839.41.

Booking (NASDAQ:BKNGGet Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The business services provider reported $99.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $95.56 by $3.94. The business had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $83.39 EPS. As a group, equities research analysts predict that Booking will post 209.92 earnings per share for the current fiscal year.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a dividend of $9.60 per share. This represents a $38.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, December 5th. Booking’s payout ratio is 24.96%.

Insider Transactions at Booking

In other news, Director Robert J. Mylod, Jr. sold 40 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $5,000.00, for a total value of $200,000.00. Following the transaction, the director owned 960 shares in the company, valued at $4,800,000. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Glenn D. Fogel sold 625 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $5,141.53, for a total value of $3,213,456.25. Following the completion of the transaction, the chief executive officer directly owned 22,982 shares of the company’s stock, valued at approximately $118,162,642.46. This represents a 2.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,324 shares of company stock worth $17,193,557 over the last three months. 0.16% of the stock is owned by insiders.

Institutional Trading of Booking

A number of hedge funds and other institutional investors have recently modified their holdings of BKNG. Aprio Wealth Management LLC grew its holdings in shares of Booking by 2.3% in the first quarter. Aprio Wealth Management LLC now owns 88 shares of the business services provider’s stock valued at $406,000 after purchasing an additional 2 shares during the period. GSG Advisors LLC grew its stake in shares of Booking by 4.3% in the 2nd quarter. GSG Advisors LLC now owns 49 shares of the business services provider’s stock valued at $284,000 after buying an additional 2 shares during the period. Bigelow Investment Advisors LLC grew its stake in shares of Booking by 1.9% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 108 shares of the business services provider’s stock valued at $625,000 after buying an additional 2 shares during the period. Grove Bank & Trust increased its holdings in shares of Booking by 3.2% during the 2nd quarter. Grove Bank & Trust now owns 65 shares of the business services provider’s stock worth $376,000 after buying an additional 2 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in shares of Booking by 0.4% during the 2nd quarter. Ballentine Partners LLC now owns 488 shares of the business services provider’s stock valued at $2,825,000 after buying an additional 2 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Company Profile

(Get Free Report)

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.

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