PDT Partners LLC Makes New $1.03 Million Investment in Expeditors International of Washington, Inc. $EXPD

Key Points

• PDT Partners LLC has acquired a new stake in Expeditors International of Washington, purchasing 8,600 shares valued at approximately $1,034,000 during the first quarter.
• Hedge funds and other institutional investors now own 94.02% of the company's stock, indicating significant institutional interest in Expeditors International.
• Analysts have mixed ratings on the stock, with an average rating of "Reduce" and a consensus price target of $114.22, highlighting potential uncertainties for investors.

PDT Partners LLC bought a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,600 shares of the transportation company's stock, valued at approximately $1,034,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXPD. Invesco Ltd. increased its stake in Expeditors International of Washington by 23.4% in the 1st quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company's stock worth $365,548,000 after acquiring an additional 576,468 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Expeditors International of Washington by 13,910.4% in the 1st quarter. GAMMA Investing LLC now owns 507,455 shares of the transportation company's stock valued at $61,021,000 after acquiring an additional 503,833 shares during the last quarter. Boston Partners lifted its holdings in shares of Expeditors International of Washington by 13.1% in the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company's stock valued at $516,385,000 after acquiring an additional 498,212 shares during the last quarter. Nuveen LLC bought a new position in shares of Expeditors International of Washington in the 1st quarter valued at about $43,816,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Expeditors International of Washington by 57.0% in the 4th quarter. Two Sigma Advisers LP now owns 669,700 shares of the transportation company's stock valued at $74,183,000 after acquiring an additional 243,200 shares during the last quarter. Institutional investors own 94.02% of the company's stock.

Wall Street Analyst Weigh In

EXPD has been the subject of a number of analyst reports. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. Truist Financial increased their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a report on Monday, June 30th. UBS Group increased their price target on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their price target for the company from $117.00 to $118.00 in a report on Friday, July 11th. Finally, Robert W. Baird initiated coverage on shares of Expeditors International of Washington in a report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price target for the company. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $114.22.

Expeditors International of Washington Stock Down 0.5%

EXPD traded down $0.63 during trading hours on Tuesday, reaching $121.10. 255,750 shares of the company's stock traded hands, compared to its average volume of 1,351,427. The firm has a 50-day moving average price of $117.85 and a 200 day moving average price of $115.07. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $131.59. The firm has a market capitalization of $16.43 billion, a PE ratio of 21.17, a PEG ratio of 5.00 and a beta of 1.06.

Insider Buying and Selling at Expeditors International of Washington

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

Expeditors International of Washington Profile

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.