Corient Private Wealth LP Has $9.96 Million Position in Expedia Group, Inc. $EXPE

Key Points

• Corient Private Wealth reduced its Expedia Group position by 32.9% in the second quarter, selling 19,110 shares and retaining 38,929 shares valued at approximately $9.96 million. Institutional investors collectively own 90.76% of EXPE.
• Analysts maintain a consensus “Hold” rating with an average price target of $316.79, despite several firms raising their targets. Expedia reported quarterly revenue of $4.32 billion and earnings per share of $5.76, beating estimates while revenue increased 14% year over year.
• Expedia declared a quarterly dividend of $0.48 per share, equivalent to an annualized $1.92 payout and a 0.7% yield. Company insiders sold 11,950 shares worth approximately $3.88 million during the latest quarter.

Corient Private Wealth LP cut its position in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 32.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,929 shares of the online travel company's stock after selling 19,110 shares during the quarter. Corient Private Wealth LP's holdings in Expedia Group were worth $9,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Expedia Group during the 4th quarter worth approximately $861,979,000. Deutsche Bank AG lifted its position in shares of Expedia Group by 55.0% in the fourth quarter. Deutsche Bank AG now owns 1,286,093 shares of the online travel company's stock worth $364,363,000 after purchasing an additional 456,176 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Expedia Group by 104.1% in the first quarter. First Trust Advisors LP now owns 1,191,528 shares of the online travel company's stock worth $275,112,000 after purchasing an additional 607,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Expedia Group by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,190,874 shares of the online travel company's stock worth $274,948,000 after purchasing an additional 17,378 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Expedia Group by 13.3% during the first quarter. Pacer Advisors Inc. now owns 1,069,524 shares of the online travel company's stock worth $246,942,000 after purchasing an additional 125,749 shares during the last quarter. Institutional investors and hedge funds own 90.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EXPE shares. Jefferies Financial Group lifted their price target on shares of Expedia Group from $300.00 to $310.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Piper Sandler restated a "neutral" rating and issued a $325.00 price objective (up from $245.00) on shares of Expedia Group in a report on Thursday, August 6th. Truist Financial lifted their target price on Expedia Group from $246.00 to $309.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Royal Bank Of Canada upped their target price on Expedia Group from $290.00 to $330.00 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. Finally, Wall Street Zen cut Expedia Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Eighteen research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $316.79.

Expedia Group Price Performance

Shares of NASDAQ EXPE opened at $286.97 on Thursday. The firm has a market cap of $34.44 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 0.72 and a beta of 1.25. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.21. Expedia Group, Inc. has a 1-year low of $185.34 and a 1-year high of $342.00. The business's 50 day moving average is $297.86 and its 200-day moving average is $258.73.

Expedia Group (NASDAQ:EXPE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The online travel company reported $5.76 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.54. Expedia Group had a return on equity of 87.32% and a net margin of 12.97%.The firm had revenue of $4.32 billion for the quarter, compared to analysts' expectations of $4.17 billion. During the same quarter last year, the business earned $4.24 EPS. The company's quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts predict that Expedia Group, Inc. will post 17.15 earnings per share for the current year.

Expedia Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 27th will be paid a $0.48 dividend. The ex-dividend date is Thursday, August 27th. This represents a $1.92 annualized dividend and a yield of 0.7%. Expedia Group's payout ratio is 11.97%.

Insider Buying and Selling at Expedia Group

In other Expedia Group news, CAO Lance Soliday sold 2,810 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $323.65, for a total transaction of $909,456.50. Following the transaction, the chief accounting officer owned 12,006 shares in the company, valued at $3,885,741.90. This represents a 18.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Dzielak sold 1,004 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $335.00, for a total transaction of $336,340.00. Following the transaction, the insider directly owned 104,331 shares in the company, valued at $34,950,885. This represents a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,950 shares of company stock valued at $3,881,995 in the last quarter. Company insiders own 5.20% of the company's stock.

About Expedia Group

Expedia Group, Inc is an online travel company that connects travelers with lodging, transportation, activities and other travel-related services. Its consumer brands include Expedia, Hotels.com, Vrbo, Travelocity, Orbitz, Wotif and ebookers. Through these platforms, customers can search for and book hotel stays, vacation rentals, flights, rental cars, cruises, vacation packages and activities.

The company also provides business-to-business travel technology and booking services through its partnerships with airlines, hotels, financial institutions, retailers and other organizations.

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