Assetmark Inc. Lowers Position in Expedia Group, Inc. (NASDAQ:EXPE)

Key Points

• Assetmark Inc. has decreased its stake in Expedia Group, Inc. by 17.6%, selling 4,435 shares, with remaining holdings worth approximately $3.49 million.
• Several research firms have recently adjusted their price targets for Expedia, with Truist Financial reducing its price objective from $175 to $168, while others have set a consensus average target price of $189.38.
• Expedia Group announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 0.89%, with a dividend payout ratio of 18.87%.

Assetmark Inc. reduced its position in Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 17.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,761 shares of the online travel company's stock after selling 4,435 shares during the quarter. Assetmark Inc.'s holdings in Expedia Group were worth $3,490,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new stake in Expedia Group during the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of Expedia Group during the first quarter worth approximately $34,000. Optiver Holding B.V. purchased a new position in shares of Expedia Group during the fourth quarter worth approximately $38,000. Banque Transatlantique SA purchased a new position in shares of Expedia Group during the fourth quarter worth approximately $45,000. Finally, Larson Financial Group LLC raised its stake in shares of Expedia Group by 2,175.0% during the first quarter. Larson Financial Group LLC now owns 273 shares of the online travel company's stock worth $46,000 after acquiring an additional 261 shares in the last quarter. 90.76% of the stock is currently owned by institutional investors.

Expedia Group Stock Down 1.2%

Shares of EXPE traded down $2.16 during mid-day trading on Friday, hitting $178.06. 1,674,154 shares of the company traded hands, compared to its average volume of 2,083,952. Expedia Group, Inc. has a 1-year low of $110.20 and a 1-year high of $207.73. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $22.63 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. The business has a 50 day moving average of $174.03 and a 200 day moving average of $172.71.

Expedia Group (NASDAQ:EXPE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The online travel company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). Expedia Group had a net margin of 8.48% and a return on equity of 52.60%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the company earned $0.21 EPS. The business's revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Expedia Group, Inc. will post 12.28 EPS for the current year.

Expedia Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, May 29th. Expedia Group's dividend payout ratio is 18.87%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler downgraded shares of Expedia Group from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $174.00 to $135.00 in a research note on Friday, May 9th. Truist Financial decreased their target price on shares of Expedia Group from $175.00 to $168.00 and set a "hold" rating on the stock in a research note on Tuesday, June 24th. Wedbush reaffirmed a "neutral" rating and issued a $165.00 target price (down from $180.00) on shares of Expedia Group in a research note on Friday, May 9th. Barclays lifted their target price on shares of Expedia Group from $187.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $200.00 target price on shares of Expedia Group in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $189.38.

Expedia Group Profile

Expedia Group, Inc operates as an online travel company in the United States and internationally. The company operates through B2C, B2B, and trivago segments. Its B2C segment includes Brand Expedia, a full-service online travel brand offers various travel products and services; Hotels.com for lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com and CarRentals.com.