5 Best Seasonal Stocks to Buy Now

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1. Booking Holdings Inc. (NASDAQ:BKNG)     

Number of Hedge Fund Holders: 100

Booking Holdings Inc. (NASDAQ:BKNG) tops our list of the best seasonal stocks to buy now. It is an American travel technology company with operations in over 220 countries. Through the company’s website, the consumers can book from over 28 million accommodations, including hotels, apartments, and resorts, and also provides special vacation packages for its consumers.

In August, Credit Suisse lifted its price target on Booking Holdings Inc. (NASDAQ:BKNG) to $3,100 with an ‘Outperform’ rating on the shares. The firm’s analyst, Stephen Ju raised the price target following the solid quarterly results due to the economic recovery in Europe. In Q2 2021, Booking Holdings Inc. (NASDAQ:BKNG) reported gross travel bookings at $22.00 billion, up from $11.9 billion during the same period last year. The company’s revenue of $2.1 billion presented a 242.9% year-over-year growth and beat the market consensus by $270 million. In the past year, Booking Holdings Inc. (NASDAQ:BKNG) has delivered a 34.2% return to shareholders. Recently, BofA has also picked Booking Holdings Inc. (NASDAQ:BKNG) as one of its most favored cyclic companies that would benefit from reopening the economy.

Of the 873 hedge funds tracked by Insider Monkey, 100 hedge funds have positions in Booking Holdings Inc. (NASDAQ:BKNG) in Q2 2021, worth $6.9 billion. In Q1 2021, the number of hedge funds having stakes in the company stood at 103, with a total value of $6.8 billion.

First Eagle Investment Management recently released its Q2 2021 investor letter and mentioned Booking Holdings Inc. (NASDAQ:BKNG) in it. Here is what the firm has to say:

“The leading detractors in the quarter (includes) Booking Holdings Inc. The owner of online reservation sites including booking.com, priceline.com and agoda.com, Booking Holdings generates the majority of its earnings in Europe. While the stock tailed off from its April highs, it appears well positioned for a potential rebound as global travel volumes pick up.”

You can also take a look at 10 Best Undervalued Stocks to Buy Now and 10 Best Spring Stocks to Buy Now

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