Bank of New York Mellon Corp Sells 1,871,992 Shares of Expedia Group, Inc. $EXPE

Key Points

• Bank of New York Mellon sharply reduced its Expedia stake, selling 1,871,992 shares in Q1 and cutting its holdings by 73.6% to 671,435 shares worth about $155 million.
• Expedia’s latest quarterly results beat expectations, with EPS of $1.96 versus a $1.41 estimate and revenue of $3.43 billion, up 14.7% year over year.
• Despite the earnings beat, Wall Street remains cautious: Expedia’s overall analyst rating is Hold, with a consensus target price of $288.82, while the stock recently traded at $268.77.

Bank of New York Mellon Corp lessened its holdings in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 73.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 671,435 shares of the online travel company's stock after selling 1,871,992 shares during the period. Bank of New York Mellon Corp owned 0.55% of Expedia Group worth $155,028,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EXPE. Illinois Municipal Retirement Fund lifted its holdings in Expedia Group by 1.9% during the first quarter. Illinois Municipal Retirement Fund now owns 110,782 shares of the online travel company's stock worth $25,578,000 after acquiring an additional 2,050 shares in the last quarter. Three Seasons Wealth LLC raised its stake in shares of Expedia Group by 636.5% in the 1st quarter. Three Seasons Wealth LLC now owns 6,945 shares of the online travel company's stock valued at $1,604,000 after purchasing an additional 6,002 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Expedia Group by 9.6% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 67,137 shares of the online travel company's stock valued at $15,487,000 after purchasing an additional 5,900 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Expedia Group by 51.9% in the first quarter. Hillsdale Investment Management Inc. now owns 5,270 shares of the online travel company's stock valued at $1,217,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Expedia Group by 24.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,260 shares of the online travel company's stock worth $984,000 after buying an additional 833 shares during the period. Institutional investors own 90.76% of the company's stock.

Analyst Ratings Changes

EXPE has been the topic of a number of research reports. Weiss Ratings lowered shares of Expedia Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Citic Securities decreased their target price on shares of Expedia Group from $337.00 to $320.00 and set a "buy" rating for the company in a research report on Friday, May 15th. UBS Group cut their price target on shares of Expedia Group from $266.00 to $262.00 and set a "neutral" rating on the stock in a research report on Friday, May 8th. Barclays increased their price objective on shares of Expedia Group from $260.00 to $264.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, TD Cowen raised their price objective on Expedia Group from $260.00 to $285.00 and gave the company a "hold" rating in a report on Wednesday, April 22nd. Seventeen analysts have rated the stock with a Buy rating and twenty-two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $288.82.

Expedia Group Price Performance

Shares of NASDAQ EXPE opened at $268.77 on Monday. The business's 50 day moving average price is $240.27 and its two-hundred day moving average price is $244.49. The company has a market cap of $32.94 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 0.71 and a beta of 1.23. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.43. Expedia Group, Inc. has a twelve month low of $174.05 and a twelve month high of $303.80.

Expedia Group (NASDAQ:EXPE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The online travel company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.55. Expedia Group had a return on equity of 84.33% and a net margin of 9.81%.The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts predict that Expedia Group, Inc. will post 16.98 EPS for the current year.

Expedia Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 28th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. Expedia Group's payout ratio is presently 16.90%.

Insider Activity

In related news, CAO Lance A. Soliday sold 940 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $221.86, for a total value of $208,548.40. Following the transaction, the chief accounting officer owned 14,083 shares in the company, valued at approximately $3,124,454.38. This represents a 6.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert J. Dzielak sold 4,702 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $233.00, for a total transaction of $1,095,566.00. Following the completion of the transaction, the insider owned 105,448 shares in the company, valued at approximately $24,569,384. This trade represents a 4.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.20% of the company's stock.

About Expedia Group

Expedia Group NASDAQ: EXPE is a global travel technology company that operates an online marketplace connecting consumers, travel suppliers and third‑party partners. The company's platform enables search, comparison and booking of travel products and services, including hotels, airline tickets, vacation rentals, car rentals, cruises and packaged travel. Its portfolio comprises consumer-facing travel brands as well as corporate travel solutions and technology services that serve both leisure and business travelers.

Key offerings include consumer booking platforms and mobile apps that aggregate inventory from hotels, vacation rental managers, airlines and car rental companies, alongside ancillary travel services such as trip insurance and activities.

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