Engineers Gate Manager LP Sells 8,991 Shares of Expedia Group, Inc. $EXPE

Key Points

• Engineers Gate Manager LP reduced its Expedia Group stake by 55.3%, selling 8,991 shares and retaining 7,263 shares valued at approximately $1.86 million.
• Institutional investors own 90.76% of Expedia, while analysts maintain a consensus “Hold” rating with an average price target of $318.71.
• Expedia exceeded quarterly expectations, reporting $5.76 in earnings per share and $4.32 billion in revenue; the company also announced a quarterly dividend of $0.48 per share.

Engineers Gate Manager LP cut its holdings in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 55.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,263 shares of the online travel company's stock after selling 8,991 shares during the period. Engineers Gate Manager LP's holdings in Expedia Group were worth $1,858,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Expedia Group during the fourth quarter valued at $861,979,000. Bank of New York Mellon Corp bought a new stake in shares of Expedia Group in the second quarter worth $166,203,000. First Trust Advisors LP raised its position in Expedia Group by 104.1% during the 1st 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 during the last quarter. Deutsche Bank AG raised its position in Expedia Group by 55.0% during the 4th 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 during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Expedia Group by 67.7% during the 2nd quarter. Wellington Management Group LLP now owns 780,140 shares of the online travel company's stock worth $199,622,000 after buying an additional 314,984 shares during the period. 90.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXPE. Rosenblatt Securities initiated coverage on Expedia Group in a research report on Tuesday, September 1st. They issued a "neutral" rating and a $360.00 price target on the stock. Jefferies Financial Group raised their price objective on Expedia Group from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings raised Expedia Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Susquehanna upped their target price on Expedia Group from $250.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, Cantor Fitzgerald increased their target price on shares of Expedia Group from $255.00 to $310.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Eighteen analysts have rated the stock with a Buy rating and twenty-two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $318.71.

Expedia Group Stock Up 1.8%

Shares of NASDAQ:EXPE opened at $293.08 on Wednesday. Expedia Group, Inc. has a 1 year low of $185.34 and a 1 year high of $342.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.80 and a quick ratio of 0.80. The business's 50-day moving average is $297.33 and its 200-day moving average is $258.25. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 0.70 and a beta of 1.25.

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

Expedia Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 27th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. Expedia Group's dividend payout ratio (DPR) is 11.97%.

Insider Activity

In related news, Director Craig Jacobson sold 3,133 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $328.52, for a total transaction of $1,029,253.16. Following the transaction, the director owned 29,832 shares in the company, valued at $9,800,408.64. The trade was a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lance Soliday sold 2,810 shares of the business's stock in a transaction 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. The trade was a 18.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,950 shares of company stock worth $3,881,995 in the last quarter. 5.20% of the stock is owned by corporate insiders.

Expedia Group Company Profile

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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