Townsquare Capital LLC Acquires 6,459 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• Townsquare Capital LLC increased its ownership in Expeditors International of Washington by 29.3%, now holding over 28,000 shares worth approximately $3.43 million.
• Other institutional investors have also boosted their stakes, with Wealth Enhancement Advisory Services LLC increasing its position by 53.4% in the first quarter.
• Analysts have varied opinions on the stock, with predictions revising price targets downward, reflecting a consensus rating of "Hold" and a price target around $114.22.

Townsquare Capital LLC raised its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 29.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,539 shares of the transportation company's stock after purchasing an additional 6,459 shares during the quarter. Townsquare Capital LLC's holdings in Expeditors International of Washington were worth $3,432,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EXPD. Alpine Bank Wealth Management bought a new position in Expeditors International of Washington during the first quarter valued at about $26,000. Coppell Advisory Solutions LLC bought a new stake in Expeditors International of Washington in the 4th quarter valued at $25,000. Garde Capital Inc. acquired a new position in shares of Expeditors International of Washington in the first quarter valued at $37,000. Colonial Trust Co SC increased its holdings in Expeditors International of Washington by 58.6% in the 4th quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock valued at $39,000 after buying an additional 130 shares during the period. Finally, Parvin Asset Management LLC acquired a new stake in shares of Expeditors International of Washington during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Stock Down 1.9%

Shares of Expeditors International of Washington stock traded down $2.27 during trading on Thursday, reaching $119.98. 1,185,865 shares of the stock were exchanged, compared to its average volume of 1,378,134. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59. The stock's fifty day moving average is $115.38 and its 200 day moving average is $114.18. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EXPD. Robert W. Baird assumed coverage on shares of Expeditors International of Washington in a research note on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective on the stock. Barclays lowered their price target on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research report on Wednesday, May 7th. Baird R W raised Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their price target for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. Finally, TD Cowen dropped their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $114.22.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the sale, the vice president owned 7,651 shares of the company's stock, valued at approximately $903,200.55. The trade was a 16.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company's stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.