Harvey Capital Management Inc. Cuts Holdings in Expedia Group, Inc. (NASDAQ:EXPE)

Harvey Capital Management Inc. cut its position in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,120 shares of the online travel company's stock after selling 12,140 shares during the quarter. Harvey Capital Management Inc.'s holdings in Expedia Group were worth $4,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EXPE. Norges Bank bought a new position in Expedia Group in the 4th quarter valued at $670,565,000. Geode Capital Management LLC grew its stake in Expedia Group by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,228,090 shares of the online travel company's stock valued at $600,750,000 after purchasing an additional 30,163 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Expedia Group by 6.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,360,374 shares of the online travel company's stock valued at $439,808,000 after purchasing an additional 150,480 shares during the period. Alkeon Capital Management LLC grew its stake in Expedia Group by 25.4% in the 4th quarter. Alkeon Capital Management LLC now owns 1,976,472 shares of the online travel company's stock valued at $368,276,000 after purchasing an additional 400,000 shares during the period. Finally, Lyrical Asset Management LP grew its stake in Expedia Group by 1.7% in the 4th quarter. Lyrical Asset Management LP now owns 1,763,489 shares of the online travel company's stock valued at $328,591,000 after purchasing an additional 28,736 shares during the period. 90.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Expedia Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Bank of America lifted their price objective on Expedia Group from $205.00 to $211.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Benchmark dropped their price objective on shares of Expedia Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Truist Financial cut their target price on shares of Expedia Group from $175.00 to $168.00 and set a "hold" rating for the company in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Expedia Group from $205.00 to $170.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Expedia Group presently has a consensus rating of "Hold" and an average price target of $187.19.

Expedia Group Price Performance

Shares of NASDAQ:EXPE opened at $177.55 on Wednesday. The company's fifty day moving average price is $167.24 and its 200-day moving average price is $172.83. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.85 and a beta of 1.57. Expedia Group, Inc. has a one year low of $110.20 and a one year high of $207.73. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.73 and a quick ratio of 0.73.

Expedia Group (NASDAQ:EXPE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The online travel company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.02). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.02 billion. Expedia Group had a return on equity of 52.60% and a net margin of 8.48%. Expedia Group's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. On average, equities research analysts anticipate that Expedia Group, Inc. will post 12.28 earnings per share for the current fiscal year.

Expedia Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were given a $0.40 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.60 dividend on an annualized basis and a yield of 0.90%. Expedia Group's payout ratio is 18.87%.

About Expedia Group

Expedia Group, Inc operates as an online travel company in the United States and internationally. The company operates through B2C, B2B, and trivago segments. Its B2C segment includes Brand Expedia, a full-service online travel brand offers various travel products and services; Hotels.com for lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com and CarRentals.com.

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