Wedge Capital Management L L P NC Purchases 33,641 Shares of Expedia Group, Inc. $EXPE

Key Points

• Wedge Capital Management increased its Expedia Group stake by 27.4% in the second quarter, purchasing 33,641 additional shares for a total of 156,440 shares valued at approximately $40 million. Institutional investors collectively own 90.76% of the company.
• Expedia reported quarterly earnings of $5.76 per share, exceeding the $5.22 consensus estimate, while revenue reached $4.32 billion and grew 14% year over year.
• Analysts raised several price targets, but the stock maintains a consensus “Hold” rating with an average target of $310.88. Shares opened at $321.07, near the company’s 52-week high, and Expedia declared a quarterly dividend of $0.48 per share.

Wedge Capital Management L L P NC raised its holdings in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 27.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,440 shares of the online travel company's stock after purchasing an additional 33,641 shares during the quarter. Wedge Capital Management L L P NC owned 0.13% of Expedia Group worth $40,030,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Petredis Investment Advisors LLC lifted its position in Expedia Group by 3.2% in the 1st quarter. Petredis Investment Advisors LLC now owns 1,305 shares of the online travel company's stock valued at $301,000 after acquiring an additional 40 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Expedia Group by 8.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 567 shares of the online travel company's stock valued at $161,000 after purchasing an additional 43 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Expedia Group by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 2,225 shares of the online travel company's stock valued at $630,000 after purchasing an additional 47 shares in the last quarter. Beacon Financial Advisory LLC boosted its position in shares of Expedia Group by 3.0% during the first quarter. Beacon Financial Advisory LLC now owns 1,628 shares of the online travel company's stock valued at $376,000 after buying an additional 48 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Expedia Group by 0.7% during the first quarter. V Square Quantitative Management LLC now owns 7,389 shares of the online travel company's stock worth $1,706,000 after buying an additional 49 shares in the last quarter. 90.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wedbush restated an "outperform" rating and set a $334.00 price objective on shares of Expedia Group in a research note on Thursday, August 6th. Benchmark increased their target price on shares of Expedia Group from $290.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Morgan Stanley increased their target price on shares of Expedia Group from $290.00 to $300.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Truist Financial raised their price target on shares of Expedia Group from $246.00 to $309.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Finally, Susquehanna boosted their price target on shares of Expedia Group from $250.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday. Seventeen analysts have rated the stock with a Buy rating and twenty-two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $310.88.

Expedia Group Stock Up 2.2%

EXPE stock opened at $321.07 on Wednesday. The stock has a market cap of $39.34 billion, a P/E ratio of 20.02, a P/E/G ratio of 0.77 and a beta of 1.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.21. The stock's fifty day simple moving average is $264.45 and its two-hundred day simple moving average is $244.84. Expedia Group, Inc. has a 1-year low of $185.34 and a 1-year high of $331.31.

Expedia Group (NASDAQ:EXPE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The online travel company reported $5.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.54. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.17 billion. Expedia Group had a return on equity of 87.32% and a net margin of 12.97%.The business's revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $4.24 EPS. Analysts expect that Expedia Group, Inc. will post 17.18 EPS for the current year.

Expedia Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 27th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 27th. Expedia Group's dividend payout ratio (DPR) is 11.97%.

Insider Transactions at Expedia Group

In other Expedia Group news, CAO Lance A. Soliday sold 940 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $221.86, for a total value of $208,548.40. Following the transaction, the chief accounting officer directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert J. Dzielak sold 4,702 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $233.00, for a total transaction of $1,095,566.00. Following the transaction, the insider directly owned 105,448 shares of the company's stock, valued at $24,569,384. This represents a 4.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.20% of the company's stock.

Expedia Group Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source