On September 14, 2023, news broke that &Empower Advisory Group LLC had acquired a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the first quarter of the year, as stated in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund revealed that it had acquired 6,517 shares of the business services provider’s stock, which were valued at approximately $17,368,000.
Booking Holdings Inc., trading under the ticker symbol BKNG, began Thursday’s trading session at $3,115.64. Over the past year, the stock has seen a low of $1,616.85 and a high of $3,251.71. With a market capitalization of $111.20 billion, Booking Holdings Inc. is considered a significant player in the industry.
The company currently holds a price-to-earnings (PE) ratio of 26.91 and a price/earnings to growth (PEG) ratio of 1.07. These figures provide investors with insight into how the stock is valued relative to its earnings and growth prospects. Additionally, Booking Holdings Inc.’s beta sits at 1.35, indicating that it is more volatile than the overall market.
In terms of technical analysis, it is worth noting that Booking Holdings Inc.’s 50-day moving average price stands at $3,016.26, while its 200-day moving average price is at $2,754.72. These averages help investors identify trends and determine potential buying or selling opportunities.
Examining Booking Holdings Inc.’s financial position reveals that it currently carries a debt-to-equity ratio of 11.16. This ratio indicates how much debt the company has relative to its equity or shareholder investments—higher ratios suggesting higher financial risk.
Furthermore, both Booking Holdings Inc.’s quick ratio and current ratio sit at 1.55. These liquidity ratios showcase the company’s ability to cover its short-term obligations with its assets. A ratio of 1 or higher is generally considered favorable, as it implies that the company can comfortably meet its immediate financial demands.
As an advisory group, &Empower Advisory Group LLC’s decision to acquire a stake in Booking Holdings Inc. highlights their confidence in the company’s potential for growth and long-term profitability. This acquisition comes at a time when Booking Holdings Inc. continues to solidify its position in the market.
Investors and industry analysts will undoubtedly keep a close eye on future developments involving Booking Holdings Inc., especially considering the recent acquisition by &Empower Advisory Group LLC. As always, it is essential to conduct thorough research and analysis before making any investment decisions.
Booking Holdings Inc. Gains Attention from Institutional Investors and Achieves Impressive Financial Performance
Booking Holdings Inc. (NASDAQ: BKNG) has recently caught the attention of institutional investors and hedge funds, leading to a significant increase in shares being bought and sold. Norges Bank, for example, acquired a new stake in Booking during the 4th quarter of last year, amounting to approximately $1,068,137,000. Meanwhile, Fisher Asset Management LLC increased its holdings in shares of Booking by a staggering 15,671.5% during the 1st quarter. The company now owns 334,041 shares valued at $886,014,000.
Envestnet Asset Management Inc. also saw an increase in its holdings in shares of Booking during the 1st quarter. The firm’s holdings skyrocketed by 503.6%, with Envestnet Asset Management Inc. now having 188,796 shares valued at $85,684,000.
Arrowstreet Capital Limited Partnership joined in with a substantial increase as well during the same period. Its holdings in shares of Booking surged by an incredible 3,557.5%, with Arrowstreet Capital Limited Partnership now owning 142,166 shares valued at $333,870,000.
Even Price T Rowe Associates Inc., MD got entangled with this upward trend and increased its holdings in shares of Booking by 9.3% during the last quarter of the previous year. With the addition of an extra 119,153 shares to its portfolio worth $2 billion and more than expected return on equity from this stockholding phenomenon can be seen as evident.
It is worth mentioning that currently around 92.13% of Booking’s stock is owned by institutional investors and hedge funds.
In other news related to Booking Holdings Inc., Director Radakovich Lynn Vojvodich recently sold off some company stock worth approximately $196,850 through a legal transaction that was disclosed with the Securities & Exchange Commission (SEC).
Meanwhile Chief Accounting Officer, Susana D’emic, also sold 1,200 shares of Booking’s stock in a separate, but similarly legal transaction worth $3,844,188. Following this sale, she now directly holds 6,278 shares valued at approximately $20 million.
The recent quarterly earnings results for Booking Holdings Inc., released on August 3rd, were quite impressive. The company reported an EPS of $37.62, surpassing analysts’ expectations by a substantial margin of $8.78.
Booking’s return on equity was an astounding 285.21%, and the net margin amounted to an impressive 23.04%. Furthermore, the company achieved revenues of $5.50 billion for the quarter compared to analysts’ projected amount of $5.17 billion.
Industry professionals anticipate that Booking Holdings Inc.’s EPS for the current year will be approximately 144.28.
Analysts at various research firms have expressed their viewpoints on BKNG with mostly positive ratings and increased price objectives.
For instance, JMP Securities has given Booking an “outperform” rating and raised its price target from $3,000 to $3,600. Credit Suisse Group also upgraded its price target from $2,950 to $3,325 and maintained an “outperform” rating on the stock.
Meanwhile, TheStreet improved its rating from “c+” to “b-” for Booking. Oppenheimer raised its price target from $3,000 to $3,500 and reiterated their “outperform” rating.
Lastly Mizuho increased its price target from $3,265 to a whopping figure of $3,580 while maintaining a “buy” rating on the shares of this business services provider.
In summary; with a significant increase in institutional investors’ ownership and hedge funds participation in buying/selling stocks accompanied by exceptional financial performance reflected in higher than expected earnings per share ratios along side creditable public perception indicated by positive ratings from well-reputed research firms, it seems that Booking Holdings Inc. is currently on a remarkable track of success.