5 Best Summer Stocks To Buy Now

2. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 77

Booking Holdings Inc. (NASDAQ:BKNG) provides hotel reservations, rental car services, ticket comparisons, and caters to all kinds of travel-related consumer needs. As summer travel increases, Booking Holdings Inc. (NASDAQ:BKNG) remains positioned as one of the best summer stocks to buy. On August 3, the company reported a Q2 non-GAAP EPS of $37.62 and a revenue of $5.5 billion, outperforming Wall Street estimates by $8.46 and $330 million, respectively.  

According to Insider Monkey’s first quarter database, 77 hedge funds were bullish on Booking Holdings Inc. (NASDAQ:BKNG), compared to 83 funds in the prior quarter. GuardCap Asset Management held the largest position in the company, comprising 305,759 shares valued at $811 million. 

L1 Capital International Fund had this to say about Booking Holdings Inc. (NASDAQ:BKNG) in its first quarter 2023 investor letter:

“Booking Holdings Inc. (NASDAQ:BKNG) was the largest positive contributor to the March 2023 quarterly performance. We meaningfully added to our investment in Booking in the middle of 2022 when the market was overly focused on disruptions to travel in Europe caused by airport understaffing and other COVID-19 induced inefficiencies, as well as concerns that an economic downturn would materially reduce discretionary travel. Since then, the travel environment has continued to normalize, with China being the last major market to open travel borders post COVID-19. People the world over have demonstrated their ongoing desire to travel, an industry that has historically grown significantly faster than GDP growth. Management has continued to execute a well-planned strategy to increase connections with customers booking accommodation, including offering flights, on ground transport, activities and payment options. After increasing over 20% in the December 2022 quarter, Booking’s share price increased a further 30%+ during the March 2023 quarter. Booking is now trading within our assessed view of fair value. We retain confidence that management will continue to deliver returns to shareholders and Booking remains one of the Fund’s largest holdings.”