Cannon Advisors Inc. Makes New Investment in Booking Holdings Inc. $BKNG

Cannon Advisors Inc. acquired a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 95 shares of the business services provider’s stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also modified their holdings of BKNG. Geode Capital Management LLC lifted its position in Booking by 1.1% in the second quarter. Geode Capital Management LLC now owns 854,838 shares of the business services provider’s stock worth $4,936,132,000 after purchasing an additional 9,333 shares during the period. Norges Bank acquired a new position in shares of Booking in the 2nd quarter valued at $2,210,917,000. Invesco Ltd. lifted its holdings in shares of Booking by 6.8% during the 2nd quarter. Invesco Ltd. now owns 379,583 shares of the business services provider’s stock worth $2,197,495,000 after acquiring an additional 24,030 shares during the period. Schroder Investment Management Group boosted its position in shares of Booking by 4.9% during the 2nd quarter. Schroder Investment Management Group now owns 377,198 shares of the business services provider’s stock valued at $2,183,690,000 after acquiring an additional 17,662 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its position in shares of Booking by 578,824.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 289,462 shares of the business services provider’s stock valued at $1,675,765,000 after acquiring an additional 289,412 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors.

Insider Activity at Booking

In other Booking news, Director Vanessa Ames Wittman sold 15 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $5,030.00, for a total value of $75,450.00. Following the completion of the transaction, the director directly owned 717 shares of the company’s stock, valued at approximately $3,606,510. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert J. Mylod, Jr. sold 40 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total transaction of $200,000.00. Following the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold 3,324 shares of company stock worth $17,193,557 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Booking Price Performance

Shares of BKNG opened at $5,492.11 on Friday. The company has a market capitalization of $177.03 billion, a P/E ratio of 35.70, a PEG ratio of 1.19 and a beta of 1.23. Booking Holdings Inc. has a one year low of $4,096.23 and a one year high of $5,839.41. The business’s 50 day simple moving average is $5,157.46 and its 200-day simple moving average is $5,373.75.

Booking (NASDAQ:BKNG) 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 firm had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $83.39 EPS. On average, sell-side analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 5th were issued a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. Booking’s payout ratio is currently 24.96%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial set a $5,810.00 price target on shares of Booking in a research report on Wednesday, October 29th. Wells Fargo & Company upped their price objective on Booking from $5,523.00 to $5,954.00 and gave the company an “equal weight” rating in a research note on Friday. Gordon Haskett raised their target price on Booking from $5,620.00 to $5,710.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. Robert W. Baird set a $6,325.00 price target on Booking in a research note on Wednesday, October 29th. Finally, Bank of America upgraded Booking from a “neutral” rating to a “buy” rating and set a $6,000.00 price target on the stock in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6,179.42.

Booking Company Profile

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.