Michael Burry is Buying These 5 Stocks As Recession Fears Mount

1. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 99

Booking Holdings Inc. (NASDAQ:BKNG) provides online reservation services. Latest data shows that Scion Asset Management owned 8,000 shares of Booking Holdings Inc. (NASDAQ:BKNG) at the end of the first quarter of 2022 worth over $18.7 million, representing 9.32% of the portfolio. Macro pressures have started to weigh on the stock in recent weeks after a brief rise in travel at the start of summer. BTIG has forecast that slower travel trends will persist for the rest of the year. 

On June 22, JMP Securities analyst Nicholas Jones maintained an Outperform rating on Booking Holdings Inc. (NASDAQ:BKNG) stock and lowered the price target to $2,300 from $2,750, noting that the broader travel market was under pressure from recession fears. 

At the end of the first quarter of 2022, 99 hedge funds in the database of Insider Monkey held stakes worth $7.5 billion in Booking Holdings Inc. (NASDAQ:BKNG), compared to 92 in the previous quarter worth $7.7 billion.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Booking Holdings Inc. (NASDAQ:BKNG) was one of them. Here is what the fund said: 

“The pandemic created opportunities for us to be more aggressive in a variety of areas of the market. We were opportunistic throughout the year, for example, in positioning the portfolio to benefit from a flush consumer eager to return to spending and traveling. New positions included Booking Holdings Inc. (NASDAQ:BKNG), an online travel agency with industry-leading margins and a dominant footprint in Europe.”

You can also take a peek at 10 Penny Stocks Redditors are Buying in August and 10 Best Nickel Stocks to Buy Now.

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