5 Stocks to Sell According to Billionaire Richard Chilton

1. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 96

Booking Holdings Inc. (NASDAQ:BKNG) provides travel and restaurant online reservation and related services. Despite its renown, the company is among the stocks to sell according to billionaire Richard Chilton as of the third quarter, when his fund reduced the stock’s percentage in its portfolio from 0.2% to 0.02%.

Piper Sandler analyst Thomas Champion holds a Neutral rating on shares of Booking Holdings Inc. (NASDAQ:BKNG) as of this January.

The company’s EPS in the fiscal third quarter of 2021 was $37.70, beating estimates by $4.6. Its revenue was $4.6 billion, also beating estimates by $385.44 million. Booking Holdings Inc. (NASDAQ:BKNG) has also gained 8.1% in the past six months.

For the last stock on our list, Booking Holdings Inc. (NASDAQ:BKNG), we see 96 hedge funds holding stakes in it in the third quarter of 2021, worth $8.4 billion.

Wedgewood Partners, an investment management firm, mentioned Booking Holdings Inc. (NASDAQ:BKNG) in its fourth-quarter 2021 investor letter. Here’s what they said:

  “Booking Holdings also contributed to performance, though less so compared to most portfolio holdings. The Company reported substantial room-night growth compared to the year ago period, which was heavily affected by COVID. Intra-quarter, Booking Holdings consolidated room-nights approached almost 90% of pre-COVID levels because both domestic and international travelers have had to endure a few years of pent-up travel aspirations and are being eased back into the market with various governments relaxing some of their most stringent, COVID-related travel restrictions. Although infection rates related to new COVID variants (particularly Omicron) have risen subsequent to last quarter, we think populations around the world are coming to grips with the risk of infection and will inevitably return to spending on travel. Booking Holdings represents a key source of demand for the small and medium sized hospitality industry and has the second largest global booking volume for alternative accommodations. The latter observation is significantly misunderstood by investors and represents substantial upside to the stock, regardless of the timing of the recovery of traditional hospitality spending; hence, we added to our position in Booking Holdings.”

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