Matrix Asset Advisors, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, most areas of the market were down. Value and dividend strategies were protective compared to the worst-performing growth sector. The Large Cap Value Portfolio of the fund outperformed its benchmark, the S&P 500, in the second quarter but trailed the Russell 1000 Value Index. Its Matrix Dividend Income portfolio meaningfully outperformed the S&P 500 and the Russell 1000 Value Index benchmarks in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Matrix Asset Advisors Investors discussed stocks like Booking Holdings Inc. (NASDAQ:BKNG) in the second quarter investor letter. Headquartered in Norwalk, Connecticut, Booking Holdings Inc. (NASDAQ:BKNG) is an online travel and restaurant reservation services providing company. On September 16, 2022, Booking Holdings Inc. (NASDAQ:BKNG) stock closed at $1,876.45 per share. One-month return of Booking Holdings Inc. (NASDAQ:BKNG) was -4.88% and its shares lost 19.84% of their value over the last 52 weeks. Booking Holdings Inc. (NASDAQ:BKNG) has a market capitalization of $74.507 billion.
Here is what Matrix Asset Advisors specifically said about Booking Holdings Inc. (NASDAQ:BKNG) in its Q2 2022 investor letter:
“We started a new position in Booking Holdings Inc. (NASDAQ:BKNG) a leading global online travel company. Bookings has the largest market share in the online travel agency business through its Bookings.com, Priceline.com, Agoda, Kayak, OpenTable, Rentalcars, and Etraveli franchises. Before Covid, BKNG was growing at a double-digit rate with earnings reaching $102 per share in 2019. The company’s business was hit hard during Covid but remained profitable. As global economies emerge from Covid, the travel business and Bookings have recovered quickly but the stock has been a casualty of the NASDAQ sell-off. The company has a strong balance sheet and shareholder-oriented management. We think the share price decline provided a good entry point for this high-quality company in an industry with strong growth prospects.”
Booking Holdings Inc. (NASDAQ:BKNG) is in 21st position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 93 hedge fund portfolios held Booking Holdings Inc. (NASDAQ:BKNG) at the end of the first quarter which was 99 in the previous quarter.
We discussed Booking Holdings Inc. (NASDAQ:BKNG) in another article and shared L1 Capital International’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
