Schwab Charles Investment Management Inc. boosted its stake in shares of Expedia, Inc. (NASDAQ:EXPE) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 432,665 shares of the online travel company’s stock after buying an additional 60,829 shares during the period. Schwab Charles Investment Management Inc. owned about 0.29% of Expedia worth $64,446,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Cleararc Capital Inc. increased its stake in Expedia by 0.5% in the first quarter. Cleararc Capital Inc. now owns 2,948 shares of the online travel company’s stock valued at $372,000 after buying an additional 16 shares during the last quarter. Stephens Inc. AR increased its stake in Expedia by 1.9% in the first quarter. Stephens Inc. AR now owns 2,875 shares of the online travel company’s stock valued at $363,000 after buying an additional 53 shares during the last quarter. Quantum Capital Management increased its stake in Expedia by 2.6% in the first quarter. Quantum Capital Management now owns 2,102 shares of the online travel company’s stock valued at $265,000 after buying an additional 54 shares during the last quarter. First United Bank Trust increased its stake in Expedia by 1.2% in the second quarter. First United Bank Trust now owns 5,255 shares of the online travel company’s stock valued at $783,000 after buying an additional 60 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in Expedia by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,900 shares of the online travel company’s stock valued at $492,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 84.42% of the company’s stock.
Shares of Expedia, Inc. (NASDAQ:EXPE) opened at 149.26 on Monday. Expedia, Inc. has a 1-year low of $105.62 and a 1-year high of $161.00. The firm’s 50-day moving average price is $150.80 and its 200 day moving average price is $138.80. The stock has a market capitalization of $22.63 billion, a price-to-earnings ratio of 70.24 and a beta of 0.92.
Expedia (NASDAQ:EXPE) last released its earnings results on Thursday, July 27th. The online travel company reported $0.89 EPS for the quarter, missing the 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 for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts expect that Expedia, Inc. will post $5.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a dividend of $0.30 per share. 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 yield of 0.80%. Expedia’s dividend payout ratio is currently 56.87%.
Several analysts have weighed in on the company. Credit Suisse Group set a $151.00 price target on Expedia and gave the company a “buy” rating in a research note on Sunday, April 30th. Zacks Investment Research upgraded Expedia from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research note on Wednesday, July 5th. Argus assumed coverage on Expedia in a research note on Wednesday, July 5th. They set a “buy” rating and a $178.00 price target on the stock. Oppenheimer Holdings, Inc. boosted their price target on Expedia from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating and set a $139.00 price target on shares of Expedia in a research note on Thursday, May 18th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Expedia presently has an average rating of “Buy” and a consensus price target of $162.24.
In related news, EVP Mark D. Okerstrom sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $150.41, for a total transaction of $1,880,125.00. Following the completion of the sale, the executive vice president now directly owns 71,248 shares of the company’s stock, valued at $10,716,411.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Victor Kaufman sold 35,598 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $149.29, for a total transaction of $5,314,425.42. Following the sale, the insider now directly owns 167,673 shares of the company’s stock, valued at $25,031,902.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,826 shares of company stock valued at $22,359,010. Company insiders own 20.88% of the company’s stock.
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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