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What Makes Booking Holdings (BKNG) Shares Attractive?

Ensemble Capital Management, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy returned 3.48% in the first quarter compared to 7.50% for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Ensemble Capital highlighted stocks like Booking Holdings Inc. (NASDAQ:BKNG) in the first quarter 2023 investor letter. Headquartered in Norwalk, Connecticut, Booking Holdings Inc. (NASDAQ:BKNG) provides online travel and restaurant booking services. On April 20, 2023, Booking Holdings Inc. (NASDAQ:BKNG) stock closed at $2,660.77 per share. One-month return of Booking Holdings Inc. (NASDAQ:BKNG) was 6.46%, and its shares gained 20.19% of their value over the last 52 weeks. Booking Holdings Inc. (NASDAQ:BKNG) has a market capitalization of $100.174 billion.

Ensemble Capital made the following comment about Booking Holdings Inc. (NASDAQ:BKNG) in its Q1 2023 investor letter:

Booking Holdings Inc. (NASDAQ:BKNG) (+31.61%): Despite all of the reasonable worries about a recession or high inflation stopping consumers from spending, these worries have remained entirely absent from the global travel industry. In February, Booking, the largest global online travel agency, reported 39% growth in the number of hotel room nights booked despite large increases in the average price of hotel rooms. The company said that demand accelerated in January. The company has been busily buying back shares, causing total shares outstanding to drop by 8% over the course of 2022. The company guided to continued double digit growth in 2023 and announced a new buyback plan equal to 24% of the company’s market capitalization.”

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Maxx-Studio/Shutterstock.com

Booking Holdings Inc. (NASDAQ:BKNG) is in 21st position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 83 hedge fund portfolios held Booking Holdings Inc. (NASDAQ:BKNG) at the end of the fourth quarter which was 92 in the previous quarter.

We discussed Booking Holdings Inc. (NASDAQ:BKNG) in another article and shared Wedgewood Partners' views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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