Par Capital Management Inc. reduces equity position in Expedia Group, Inc. (NASDAQ:EXPE)


Par Capital Management Inc. has acquired its stake in Expedia Group, Inc. (NASDAQ:EXPE – Free Report) fell 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The company owned 2,863,500 shares of the online travel company, after selling 586,500 shares during the quarter. Expedia Group accounts for about 14.3% of Par Capital Management Inc.’s shares, making it the largest holding. Par Capital Management Inc. owned about 2.06% of Expedia Group worth $434,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. ValueAct Holdings LP bought a new stake in Expedia Group in the fourth quarter valued at $645,346,000. Norges Bank bought a new stake in shares of Expedia Group in the fourth quarter worth approximately $334,632,000. Lyrical Asset Management LP grew its holdings in shares of Expedia Group by 0.8% in the fourth quarter. Lyrical Asset Management LP now owns 1,796,068 shares of the online travel company’s stock worth $272,625,000 after purchasing an additional 13,792 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Expedia Group by 1.5% in the third quarter. Northern Trust Corp now owns 1,557,816 shares of the online travel company’s stock worth $160,564,000 after purchasing an additional 22,518 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Expedia Group by 4.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,439,626 shares of the online travel company’s stock worth $218,521,000 after purchasing an additional 59,530 shares in the last quarter. Institutional investors own 90.76% of the company’s shares.

Expedia Group Stock Performance

Shares of EXPE stock opened at $124.61 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The stock has a 50-day moving average of $121.68 and a 200-day moving average of $135.38. Expedia Group, Inc. has a one-year low of $92.48 and a one-year high of $160.05.

Expedia Group (NASDAQ:EXPE – Get Free Report) last reported its quarterly results on Thursday, May 2. The online travel company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.57. The company had revenue of $2.89 billion during the quarter, compared to analyst expectations of $2.80 billion. Expedia Group had a return on equity of 41.63% and a net margin of 6.18%. As a group, sell-side analysts expect Expedia Group, Inc. will post earnings per share of 9.33 for the current year.

Insiders place their bets

In other Expedia Group news, Director Craig A. Jacobson sold 6,722 shares of the company’s stock in a transaction that occurred on Wednesday, May 15. The shares were sold at an average price of $112.71, for a total transaction of $757,636.62. Following the sale, the director now directly owns 32,620 shares in the company, valued at approximately $3,676,600.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other Expedia Group news, CAO Lance A. Soliday sold 544 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $113.38, for a total transaction of $61,678.72. Following the sale, the Chief Accounting Officer now directly owns 11,187 shares of the company’s stock, valued at approximately $1,268,382.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, Director Craig A. Jacobson sold 6,722 shares of the company’s stock in a transaction that occurred on Wednesday, May 15. The stock sold at an average price of $112.71, for a total transaction of $757,636.62. Following the sale, the director now owns 32,620 shares in the company, valued at $3,676,600.20. The explanation of this sale can be found here. Corporate insiders own 8.07% of the company’s shares.

Wall Street analysts weigh in

EXPE has been the subject of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Expedia Group in a report on Monday, April 29. TD Cowen lowered their target price on shares of Expedia Group from $165.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, May 3. Jefferies Financial Group lowered their target price on shares of Expedia Group from $150.00 to $145.00 and set a “hold” rating on the stock in a report on Tuesday, March 19. BTIG Research lowered their target price on shares of Expedia Group from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, May 21. Finally, Royal Bank of Canada cut their price target on shares of Expedia Group from $155.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Friday, May 3. Sixteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of ‘Hold’ and a consensus price target of $148.12.

Read our latest report on EXPE

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. The B2C segment includes Brand Expedia, a full-service online travel brand offering various travel products and services; Hotels.com for accommodation; Vrbo, an online marketplace for alternative accommodations; Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com and CarRentals.com.

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Would you like to see which other hedge funds own EXPE? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Expedia Group, Inc. (NASDAQ:EXPE – Free Report).

Quarterly Institutional Ownership for Expedia Group (NASDAQ:EXPE)



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