Expedia Group, Inc. $EXPE Shares Sold by Permit Capital LLC

Key Points

• Permit Capital LLC cut its Expedia Group stake by 12% in the fourth quarter, selling 10,000 shares and leaving it with 73,000 shares worth about $20.7 million. Expedia remains its third-largest position, making up 6.4% of the fund’s holdings.
• Institutional ownership remains high at 90.76%, with several large investors recently boosting positions, including Norges Bank, Wellington Management, AQR Capital Management, Voloridge, and Tidal Investments.
• Expedia reported strong quarterly results, with EPS of $1.96 beating expectations and revenue of $3.43 billion, up 14.7% year over year. The company also announced a quarterly dividend of $0.48 per share, yielding about 0.8% annualized.

Permit Capital LLC lowered its position in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,000 shares of the online travel company's stock after selling 10,000 shares during the quarter. Expedia Group comprises 6.4% of Permit Capital LLC's holdings, making the stock its 3rd biggest position. Permit Capital LLC owned 0.06% of Expedia Group worth $20,682,000 at the end of the most recent quarter.

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

Insider Transactions at Expedia Group

In other Expedia Group news, CAO Lance A. Soliday sold 940 shares of Expedia Group stock in a transaction dated Tuesday, May 26th. The stock was 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 $3,124,454.38. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by corporate insiders.

Expedia Group Stock Performance

Expedia Group stock opened at $228.88 on Monday. Expedia Group, Inc. has a 12-month low of $160.00 and a 12-month high of $303.80. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.43. The business's 50-day moving average price is $234.33 and its two-hundred day moving average price is $247.79. The stock has a market cap of $28.05 billion, a PE ratio of 20.15, a P/E/G ratio of 0.60 and a beta of 1.25.

Expedia Group (NASDAQ:EXPE - Get Free Report) last released its earnings results on Thursday, May 7th. The online travel company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.35 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business's revenue for the quarter was up 14.7% on a year-over-year basis. As a group, analysts expect that Expedia Group, Inc. will post 17.07 earnings per share for the current fiscal year.

Expedia Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 28th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, May 28th. Expedia Group's payout ratio is currently 16.90%.

Analyst Ratings Changes

A number of research analysts recently commented on EXPE shares. Susquehanna raised their price target on Expedia Group from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Benchmark decreased their price target on Expedia Group from $310.00 to $290.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Citic Securities decreased their price target on Expedia Group from $337.00 to $320.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Robert W. Baird set a $290.00 price target on Expedia Group in a research report on Friday, May 8th. Finally, Dbs Bank upgraded Expedia Group from a "hold" rating to a "moderate buy" rating in a research report on Monday, May 11th. Sixteen research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $284.42.

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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