Expedia Inc. (EXPE) Stake Reduced by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. reduced its position in Expedia Inc. (NASDAQ:EXPE) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 7,027 shares of the online travel company’s stock after selling 218 shares during the period. PNC Financial Services Group Inc.’s holdings in Expedia were worth $748,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Aperio Group LLC raised its position in shares of Expedia by 20.2% in the first quarter. Aperio Group LLC now owns 40,945 shares of the online travel company’s stock worth $4,415,000 after buying an additional 6,891 shares during the period. Telemus Capital LLC purchased a new position in shares of Expedia during the first quarter worth about $863,000. Sumitomo Life Insurance Co. purchased a new position in shares of Expedia during the first quarter worth about $1,098,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Expedia during the first quarter worth about $565,000. Finally, Nepsis Capital Management Inc. purchased a new position in shares of Expedia during the first quarter worth about $5,320,000. 82.46% of the stock is owned by institutional investors and hedge funds.
Expedia Inc. (NASDAQ:EXPE) traded up 1.44% during trading on Tuesday, reaching $107.65. 2,680,638 shares of the company’s stock traded hands. Expedia Inc. has a 12 month low of $88.40 and a 12 month high of $140.51. The firm has a market cap of $16.12 billion, a PE ratio of 79.86 and a beta of 0.84. The firm has a 50 day moving average price of $112.96 and a 200-day moving average price of $110.64.
Expedia (NASDAQ:EXPE) last released its earnings results on Thursday, July 28th. The online travel company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. Expedia had a net margin of 2.33% and a return on equity of 8.02%. The firm earned $2.92 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, analysts forecast that Expedia Inc. will post $4.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were issued a $0.26 dividend. This is a positive change from Expedia’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, August 23rd. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. Expedia’s payout ratio is 72.73%.
A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Expedia in a research note on Friday, August 19th. Jefferies Group reaffirmed a “hold” rating and set a $125.00 price target on shares of Expedia in a research note on Monday, August 1st. Deutsche Bank AG decreased their price target on Expedia from $142.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, July 29th. JPMorgan Chase & Co. decreased their price target on Expedia from $127.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Finally, Atlantic Securities raised Expedia from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research note on Monday, June 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $129.99.
In other news, EVP Mark D. Okerstrom sold 56,664 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $114.97, for a total value of $6,514,660.08. Following the completion of the transaction, the executive vice president now owns 100,543 shares of the company’s stock, valued at approximately $11,559,428.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig A. Jacobson sold 8,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $116.54, for a total transaction of $932,320.00. Following the completion of the transaction, the director now directly owns 40,896 shares of the company’s stock, valued at approximately $4,766,019.84. The disclosure for this sale can be found here. 20.95% of the stock is currently owned by insiders.
Expedia, Inc is an online travel company. The Company makes travel products and services available, on a standalone and package basis, provided by various lodging properties, airlines, car rental companies, destination service providers, cruise lines and other travel product and service companies. Its Core OTA segment provides a range of travel and advertising services, 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, Venere, Wotif Group, CarRentals.com, and Classic Vacations.
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