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Westpac Banking Corp Increases Stake in Expedia Group, Inc. (NASDAQ:EXPE)

Expedia Group logo with Retail/Wholesale background

Key Points

  • Westpac Banking Corp significantly increased its stake in Expedia Group by 1,466.8% in the first quarter, holding a total of 14,477 shares valued at $2,434,000.
  • Expedia Group reported a quarterly earnings per share (EPS) of $4.24, surpassing analyst expectations of $4.13, with revenues of $3.79 billion for the quarter, reflecting a year-over-year growth of 6.4%.
  • The company declared a quarterly dividend of $0.40, payable on September 18, representing an annualized yield of 0.8% and a payout ratio of 19.61%.
  • Looking to export and analyze Expedia Group data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Westpac Banking Corp lifted its stake in shares of Expedia Group, Inc. (NASDAQ:EXPE - Free Report) by 1,466.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,477 shares of the online travel company's stock after buying an additional 13,553 shares during the quarter. Westpac Banking Corp's holdings in Expedia Group were worth $2,434,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EXPE. Hunter Associates Investment Management LLC lifted its holdings in Expedia Group by 10.2% during the 1st quarter. Hunter Associates Investment Management LLC now owns 29,950 shares of the online travel company's stock worth $5,051,000 after buying an additional 2,776 shares during the last quarter. Praxis Investment Management Inc. raised its position in shares of Expedia Group by 63.5% during the 1st quarter. Praxis Investment Management Inc. now owns 4,610 shares of the online travel company's stock worth $775,000 after acquiring an additional 1,790 shares in the last quarter. Monument Capital Management purchased a new stake in Expedia Group during the first quarter worth approximately $2,261,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Expedia Group by 19.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,838 shares of the online travel company's stock worth $2,662,000 after purchasing an additional 2,534 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Expedia Group by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 14,451 shares of the online travel company's stock valued at $2,429,000 after purchasing an additional 445 shares in the last quarter. 90.76% of the stock is currently owned by hedge funds and other institutional investors.

Expedia Group Trading Up 5.5%

Shares of EXPE opened at $203.19 on Wednesday. Expedia Group, Inc. has a twelve month low of $126.46 and a twelve month high of $213.00. The company has a current ratio of 0.75, a quick ratio of 0.73 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $25.83 billion, a P/E ratio of 24.90, a PEG ratio of 0.89 and a beta of 1.61. The firm's 50-day moving average is $177.85 and its two-hundred day moving average is $173.03.

Expedia Group (NASDAQ:EXPE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The online travel company reported $4.24 EPS for the quarter, topping the consensus estimate of $4.13 by $0.11. Expedia Group had a return on equity of 56.25% and a net margin of 7.94%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company earned $3.51 EPS. The company's quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts predict that Expedia Group, Inc. will post 12.28 earnings per share for the current fiscal year.

Expedia Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on EXPE. Benchmark raised their price objective on shares of Expedia Group from $215.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, August 8th. The Goldman Sachs Group dropped their target price on shares of Expedia Group from $219.00 to $183.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. UBS Group lifted their price target on shares of Expedia Group from $182.00 to $209.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. BTIG Research set a $250.00 price objective on shares of Expedia Group and gave the company a "buy" rating in a research note on Friday. Finally, Royal Bank Of Canada raised their price objective on Expedia Group from $180.00 to $200.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $206.04.

Get Our Latest Report on Expedia Group

Expedia Group Profile

(Free Report)

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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Institutional Ownership by Quarter for Expedia Group (NASDAQ:EXPE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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