State of New Jersey Common Pension Fund D Sells 3,809 Shares of Expedia Group, Inc. $EXPE

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Expedia Group, Inc. by 8.3%, selling 3,809 shares and holding a total of 42,196 shares valued at approximately $7.09 million.
• Expedia reported a strong earnings performance with an EPS of $4.24, exceeding expectations, and a revenue of $3.79 billion, showing a year-over-year growth of 6.4%.
• Analysts have adjusted their price targets for Expedia Group, with Morgan Stanley raising its target from $150 to $165 and Susquehanna increasing it from $175 to $200, resulting in a consensus rating of "Moderate Buy."

State of New Jersey Common Pension Fund D decreased its holdings in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,196 shares of the online travel company's stock after selling 3,809 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Expedia Group were worth $7,093,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in shares of Expedia Group during the fourth quarter valued at approximately $27,000. McClarren Financial Advisors Inc. bought a new position in Expedia Group in the first quarter worth approximately $28,000. Atlas Capital Advisors Inc. bought a new position in Expedia Group in the first quarter worth approximately $28,000. Park Square Financial Group LLC bought a new position in Expedia Group in the first quarter worth approximately $34,000. Finally, Optiver Holding B.V. bought a new position in Expedia Group in the fourth quarter worth approximately $38,000. Institutional investors own 90.76% of the company's stock.

Analysts Set New Price Targets

EXPE has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Expedia Group from $150.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Cowen reissued a "hold" rating on shares of Expedia Group in a research note on Friday, August 8th. Oppenheimer reissued an "outperform" rating on shares of Expedia Group in a research note on Friday, August 8th. Wall Street Zen raised Expedia Group from a "hold" rating to a "buy" rating in a research note on Monday, July 28th. Finally, Susquehanna increased their price objective on Expedia Group from $175.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.63.

Expedia Group Price Performance

NASDAQ EXPE opened at $207.44 on Monday. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.75 and a quick ratio of 0.75. The stock's fifty day moving average price is $179.94 and its 200 day moving average price is $173.82. Expedia Group, Inc. has a 1 year low of $126.46 and a 1 year high of $213.00. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.03 and a beta of 1.61.

Expedia Group (NASDAQ:EXPE - Get Free Report) last released its earnings results on Thursday, August 7th. The online travel company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $0.11. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.70 billion. Expedia Group had a return on equity of 56.25% and a net margin of 7.94%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.51 EPS. As a group, equities research analysts forecast that Expedia Group, Inc. will post 12.28 earnings per share for the current year.

Expedia Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 28th. Expedia Group's dividend payout ratio (DPR) is currently 19.61%.

Insiders Place Their Bets

In other Expedia Group news, insider Robert J. Dzielak sold 2,658 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $205.57, for a total transaction of $546,405.06. Following the sale, the insider directly owned 74,417 shares of the company's stock, valued at approximately $15,297,902.69. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.13% of the company's stock.

Expedia Group Profile

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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