On October 12, 2023, it was reported that &Virtu Financial LLC had purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the second quarter. According to the disclosure filed with the Securities and Exchange Commission (SEC), the firm acquired 2,088 shares of Booking’s stock, with an approximate value of $5,638,000.
This acquisition by &Virtu Financial LLC showcases their confidence in Booking Holdings Inc., a prominent business services provider. The purchase of such a substantial number of shares suggests a positive outlook on the company’s future prospects and potential for growth.
In other news related to Booking Holdings Inc., CFO David I. Goulden participated in a transaction where he sold 550 shares of Booking’s stock on July 17th. The average selling price per share was $2,857.23, resulting in a total transaction amount of $1,571,476.50. Following this sale, Goulden directly holds 13,954 shares of the company’s stock valued at $39,869,787.42.
It is important to note that this sale was disclosed through a filing with the SEC. Interested parties can access more details about this transaction by visiting the provided link.
Furthermore, there was another transaction involving CFO David I. Goulden on July 17th where he sold an additional 550 shares of Booking’s stock at an average price per share of $2,857.23. The total worth of this particular transaction amounted to $1,571,476.50. Following this sale as well, Goulden now directly possesses 13,954 shares valued at $39,869,787.42.
Additionally, insider Paulo Pisano sold 170 shares of Booking’s stock on August 8th at an average price per share of $3,192.59. This resulted in a total transaction value of $542,740.30. After this transaction, the insider holds 4,043 shares in the company, with an estimated value of $12,907,641.37.
The disclosure related to Pisano’s sale can be accessed through the provided link. It is worth mentioning that over the past ninety days, insiders have collectively sold 4,341 shares of Booking Holdings Inc.’s stock valued at $13,450,436. This suggests active participation by corporate insiders in managing their positions within the company.
In conclusion, &Virtu Financial LLC’s recent acquisition of shares in Booking Holdings Inc. highlights their positive sentiment towards the business services provider. Additionally, the various transactions conducted by CFO David I. Goulden and insider Paulo Pisano demonstrate their involvement in managing and adjusting their respective holdings within Booking Holdings Inc.
Please note that all information presented in this article is as per public disclosures made by the relevant parties and is accurate as of October 12th, 2023.
Changes in Hedge Fund and Institutional Investor Positions Propel Booking Holdings Inc.
Booking Holdings Inc. (NASDAQ:BKNG), a leading provider of online travel and related services, has recently seen changes in its positions among several hedge funds and institutional investors. This has piqued the interest of equities research analysts who have offered their insights on the company’s performance.
Albion Financial Group UT acquired a new position in Booking during the first quarter, valuing it at approximately $27,000. Arlington Partners LLC also purchased a new stake in Booking during the same period, with a similar valuation. Creative Financial Designs Inc. ADV raised its stake in Booking by an astounding 500% during the first quarter, now owning 12 shares worth $32,000. KB Financial Partners LLC bought a new position in Booking valued at around $34,000, and Sugarloaf Wealth Management LLC increased its stake by 1,400% during the second quarter, now owning 15 shares worth $41,000. These holdings collectively represent 92.13% ownership of the company among institutional investors.
Equities research analysts have shared their views on Booking as well. Oppenheimer increased its price target from $3,000 to $3,500 with an “outperform” rating for the company. Wedbush also raised its price target to $3,450 from $3,200. Mizuho upped their price target even higher to $3,580 while giving Booking a “buy” rating. Argus reiterated a “buy” rating and issued a target price of $3,677 for shares of Booking. TD Cowen further boosted their price target from $3,325 to $3,600 with an “outperform” rating for the stock.
With one analyst rating the stock as sell and seven as hold, there is strong consensus among analysts towards booking with eighteen labeling it as buy and one even stating it as a strong buy overall. According to Bloomberg data collected, the current average rating is “Moderate Buy” with an average price target of $3,200.71.
Trading at $3,055.20 during midday trading on October 12th, shares of Booking experienced a mild decline of $5.20 compared to its usual trading volume. The company boasts a quick ratio and a current ratio of 1.55, indicating good liquidity while maintaining a debt-to-equity ratio of 11.16. The stock has shown strong performance over the past twelve months, hitting a low of $1,616.85 and reaching a high of $3,251.71. With a market capitalization of $109.04 billion and a price-to-earnings ratio of 26.43, Booking holds its position as one of the major players in the online travel sector.
In terms of financial results, Booking reported impressive earnings per share (EPS) figures for the second quarter at $37.62. This surpassed analysts’ consensus estimates by $8.78 per share ($28.84 EPS). Furthermore, Booking achieved a net margin of 23.04% and an astonishing return on equity of 285%. Their revenue for the quarter amounted to $5.50 billion, exceeding the consensus estimate of $5.17 billion and showing remarkable growth when compared to the same period last year.
Analysts are optimistic about Booking’s future performance and anticipate that it will continue to post strong earnings per share figures in the coming year.
Disclaimer: This article should not be considered as financial advice or an endorsement to invest in Booking Holdings Inc or any other securities mentioned above