12, May 2023
Booking Holdings (BKNG) Reported Strong Results on Increased Booking Volume

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the strategy underperformed and returned -0.75% (net) compared to a 7.46% return for the Russell 1000 Index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.

Diamond Hill Large Cap Strategy highlighted stocks like Booking Holdings Inc. (NASDAQ:BKNG) in the first quarter of 2023 investor letter. Headquartered in Norwalk, Connecticut, Booking Holdings Inc. (NASDAQ:BKNG) provides online travel and restaurant booking services. On May 11, 2023, Booking Holdings Inc. (NASDAQ:BKNG) stock closed at $2,656.58 per share. One-month return from Booking Holdings Inc. (NASDAQ:BKNG) was 1.02%, and its shares gained 29.40% of their value over the last 52 weeks. Booking Holdings Inc. (NASDAQ:BKNG) has a market capitalization of $98.117 billion.

Diamond Hill Large Cap Strategy made the following comment about Booking Holdings Inc. (NASDAQ:BKNG) in its Q1 2023 investor letter:

“We did have several strong performing stocks this quarter. Our top contributors to return included NVR, Amazon, Alphabet, Microsoft and Booking Holdings Inc. (NASDAQ:BKNG), all of which posted double-digit gains.

Online travel services provider Booking Holdings reported strong results in the quarter with gross bookings well above pre-pandemic levels. In addition, the outlook for consumer travel continued to be relatively strong. We are excited our position in Booking as its share price closer our estimate of intrinsic value, reallocating funds to more deeply discounted opportunities.”

train, airport, accessibility, mode, travel, icon, keyboard, car, flying, air, laptop, e-ticket, delivering, key, business, three-dimensional, rendering, buying, symbol, internet,

train, airport, accessibility, mode, travel, icon, keyboard, car, flying, air, laptop, e-ticket, delivering, key, business, three-dimensional, rendering, buying, symbol, internet,

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Booking Holdings Inc. (NASDAQ:BKNG) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 83 hedge fund portfolios held by 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 the list of the best fast growth stocks to buy. 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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