Comerica Bank cut its position in shares of Expedia, Inc. (NASDAQ:EXPE) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,701 shares of the online travel company’s stock after selling 451 shares during the period. Comerica Bank’s holdings in Expedia were worth $5,520,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in EXPE. Dupont Capital Management Corp bought a new position in Expedia during the second quarter worth $143,000. Bessemer Group Inc. raised its stake in Expedia by 16.6% in the second quarter. Bessemer Group Inc. now owns 1,039 shares of the online travel company’s stock worth $155,000 after buying an additional 148 shares during the period. CENTRAL TRUST Co raised its stake in Expedia by 18.7% in the second quarter. CENTRAL TRUST Co now owns 1,059 shares of the online travel company’s stock worth $158,000 after buying an additional 167 shares during the period. State of Alaska Department of Revenue acquired a new stake in Expedia during the first quarter worth about $146,000. Finally, Point72 Asia Hong Kong Ltd raised its stake in Expedia by 6,905.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,261 shares of the online travel company’s stock worth $159,000 after buying an additional 1,243 shares during the period. Institutional investors own 81.22% of the company’s stock.
Expedia, Inc. (EXPE) opened at 149.94 on Friday. Expedia, Inc. has a 52-week low of $105.62 and a 52-week high of $161.00. The stock has a 50 day moving average of $150.78 and a 200-day moving average of $138.60. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of 70.56 and a beta of 0.92.
Expedia (NASDAQ:EXPE) last issued its quarterly earnings data on Thursday, July 27th. The online travel company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.05. Expedia had a net margin of 3.49% and a return on equity of 10.98%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Expedia’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts expect that Expedia, Inc. will post $5.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a $0.30 dividend. The ex-dividend date is Tuesday, August 22nd. This is a positive change from Expedia’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 0.80%. Expedia’s payout ratio is currently 56.87%.
A number of equities research analysts have issued reports on EXPE shares. Stifel Nicolaus lowered shares of Expedia from a “buy” rating to a “hold” rating and increased their target price for the stock from $133.00 to $135.00 in a report on Friday, April 28th. They noted that the move was a valuation call. Needham & Company LLC increased their target price on shares of Expedia from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Benchmark Co. reiterated a “buy” rating and set a $165.00 target price on shares of Expedia in a report on Friday, April 28th. Cantor Fitzgerald increased their target price on shares of Expedia from $175.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Finally, Cowen and Company increased their target price on shares of Expedia from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Expedia presently has a consensus rating of “Buy” and a consensus price target of $160.81.
In related news, CEO Dara Khosrowshahi sold 86,228 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $154.12, for a total value of $13,289,459.36. Following the completion of the transaction, the chief executive officer now directly owns 518,576 shares in the company, valued at approximately $79,922,933.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Okerstrom sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $150.00, for a total value of $1,875,000.00. Following the completion of the transaction, the executive vice president now owns 71,248 shares of the company’s stock, valued at $10,687,200. The disclosure for this sale can be found here. Insiders sold a total of 134,326 shares of company stock valued at $20,478,885 over the last quarter. 20.95% of the stock is owned by insiders.
About Expedia
Expedia, Inc is an online travel company. The Company operates through four segments: Core Online Travel Agencies (Core OTA), trivago, Egencia and HomeAway. The Company’s Core OTA segment provides a range of travel and advertising services to its customers across the world, through a range of brands, including Expedia.com and Hotels.com in the United States, and localized Expedia and Hotels.com Websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Wotif Group, CarRentals.com and Classic Vacations.
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