Booking Holdings Q3 Revenue Climbs 12.7% While CEO Sells $3.2M Shares
Booking Holdings reported Q3 earnings of $99.50 per share on revenue of $9.01 billion, beating consensus by $3.94 and $300 million respectively, with revenue up 12.7% year-over-year. CEO Glenn D. Fogel sold 625 shares at an average $5,141.53, part of insider sales totaling $17.2 million over the past 90 days.
1. Institutional Ownership Increase
Benjamin Edwards Inc. more than quintupled its position in Booking Holdings during the third quarter, acquiring an additional 561 shares and bringing its total to 682 shares. As of the most recent SEC filing, this stake was valued at approximately 3.7 million. Other smaller institutional moves included Halbert Hargrove Global Advisors increasing its holding by three shares to five shares, Westside Investment Management adding four shares to reach a total of five, and several new entrants such as Atwood & Palmer, Davis Capital Management and O Brien Wealth Partners establishing positions in the high-single-digit share range. Collectively, institutional investors now account for over 92 percent of the company’s outstanding stock.
2. Insider Sales Trade Down Positions
During the most recent 90-day period, insiders disposed of 3,324 shares of Booking stock, representing a modest decline in their aggregate position. CEO Glenn D. Fogel executed a sale of 625 shares, reducing his holdings by 2.65 percent, while another senior executive, Paulo Pisano, sold 200 shares, amounting to an 11.67 percent reduction in his stake. After these transactions, the chief executive officer directly holds 22,982 shares and Pisano retains 1,514 shares. Corporate insiders as a group now own approximately 0.16 percent of the company’s total equity.
3. Third Quarter Earnings Beat Expectations
Booking Holdings reported third quarter earnings per share of 99.50, surpassing the consensus estimate of 95.56 by 3.94. Revenue reached 9.01 billion, outpacing analysts’ forecast of 8.71 billion and marking a 12.7 percent year-over-year increase. The company maintained a net margin of 19.37 percent, while return on equity remained negative, reflecting the ongoing impact of prior goodwill adjustments. Analysts currently project full-year earnings per share of approximately 209.92, supported by resilient demand for accommodations and ancillary travel services.
4. Dividend and Analyst Consensus
The board declared a quarterly dividend of 9.60 per share, translating to an annualized payout of 38.40 and yielding roughly 0.7 percent on the current share count. The ex-dividend date fell in early December, and the dividend payout ratio stands at 24.96 percent. On the analytical front, one firm maintains a Strong Buy rating, twenty-seven have Buy ratings and eight assign a Hold. The consensus target price across the analyst community implies upside potential of around 13 percent from current levels.