CIBC Asset Management Inc Acquires 10,685 Shares of Expedia Group, Inc. $EXPE

Key Points

• CIBC Asset Management boosted its Expedia Group stake by 61.9% in the fourth quarter, adding 10,685 shares and ending with 27,933 shares valued at about $7.9 million.
• Expedia reported stronger-than-expected quarterly results, with EPS of $1.96 versus estimates of $1.41 and revenue of $3.43 billion, up 14.7% year over year.
• The company declared a quarterly dividend of $0.48 per share, and analysts currently have a mixed view overall, with a consensus rating of Hold and an average price target of $284.42.

CIBC Asset Management Inc increased its holdings in Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 61.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,933 shares of the online travel company's stock after purchasing an additional 10,685 shares during the quarter. CIBC Asset Management Inc's holdings in Expedia Group were worth $7,914,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EXPE. Norges Bank bought a new stake in Expedia Group during the fourth quarter valued at $861,979,000. Wellington Management Group LLP raised its holdings in shares of Expedia Group by 24,899.5% during the third quarter. Wellington Management Group LLP now owns 1,808,466 shares of the online travel company's stock valued at $386,560,000 after purchasing an additional 1,801,232 shares during the period. AQR Capital Management LLC raised its holdings in shares of Expedia Group by 25.0% during the third quarter. AQR Capital Management LLC now owns 3,645,732 shares of the online travel company's stock valued at $779,275,000 after purchasing an additional 728,063 shares during the period. Voloridge Investment Management LLC raised its holdings in shares of Expedia Group by 465.6% during the third quarter. Voloridge Investment Management LLC now owns 452,867 shares of the online travel company's stock valued at $96,800,000 after purchasing an additional 372,798 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of Expedia Group by 1,933.8% during the third quarter. Tidal Investments LLC now owns 357,635 shares of the online travel company's stock valued at $76,444,000 after purchasing an additional 340,050 shares during the period. Institutional investors own 90.76% of the company's stock.

Insider Buying and Selling

In related news, CAO Lance A. Soliday sold 940 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $221.86, for a total value of $208,548.40. Following the completion of the transaction, the chief accounting officer directly owned 14,083 shares of the company's stock, valued at approximately $3,124,454.38. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.20% of the company's stock.

Expedia Group Stock Up 0.7%

Expedia Group stock opened at $228.88 on Friday. Expedia Group, Inc. has a twelve month low of $160.00 and a twelve month high of $303.80. The firm has a 50 day moving average price of $234.33 and a 200-day moving average price of $247.76. The company has a market capitalization of $28.05 billion, a P/E ratio of 20.15, a P/E/G ratio of 0.69 and a beta of 1.25. 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 (NASDAQ:EXPE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The online travel company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.41 by $0.55. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.35 billion. Expedia Group had a net margin of 9.81% and a return on equity of 84.33%. Expedia Group's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. As a group, equities analysts predict that Expedia Group, Inc. will post 17.07 EPS for the current year.

Expedia Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 28th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.92 annualized dividend and a yield of 0.8%. Expedia Group's dividend payout ratio (DPR) is 16.90%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EXPE shares. UBS Group dropped their price objective on shares of Expedia Group from $266.00 to $262.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. B. Riley Financial dropped their price objective on shares of Expedia Group from $360.00 to $350.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Jefferies Financial Group upgraded shares of Expedia Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $240.00 to $300.00 in a report on Monday, March 30th. Weiss Ratings lowered shares of Expedia Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Argus dropped their price objective on shares of Expedia Group from $345.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Sixteen investment analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $284.42.

Expedia Group Company Profile

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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