Expedia, Inc. (EXPE) Stake Cut by Morris Capital Advisors LLC
Morris Capital Advisors LLC lowered its stake in Expedia, Inc. (NASDAQ:EXPE) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 30,034 shares of the online travel company’s stock after selling 632 shares during the period. Expedia comprises about 3.2% of Morris Capital Advisors LLC’s portfolio, making the stock its 9th largest position. Morris Capital Advisors LLC’s holdings in Expedia were worth $4,474,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank N A MO bought a new position in Expedia during the second quarter valued at approximately $1,634,000. Wedbush Securities Inc. boosted its position in Expedia by 12.5% in the second quarter. Wedbush Securities Inc. now owns 3,419 shares of the online travel company’s stock valued at $509,000 after buying an additional 380 shares during the last quarter. Rhumbline Advisers boosted its position in Expedia by 4.6% in the second quarter. Rhumbline Advisers now owns 232,122 shares of the online travel company’s stock valued at $34,575,000 after buying an additional 10,279 shares during the last quarter. First Mercantile Trust Co. boosted its position in Expedia by 23.6% in the second quarter. First Mercantile Trust Co. now owns 2,996 shares of the online travel company’s stock valued at $446,000 after buying an additional 572 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Expedia during the second quarter valued at approximately $499,000. 80.96% of the stock is owned by hedge funds and other institutional investors.
Expedia, Inc. (NASDAQ EXPE) traded up 0.67% during mid-day trading on Friday, reaching $144.51. The company’s stock had a trading volume of 1,327,508 shares. Expedia, Inc. has a 12 month low of $105.62 and a 12 month high of $161.00. The stock’s 50-day moving average is $151.59 and its 200-day moving average is $136.95. The firm has a market capitalization of $21.91 billion, a PE ratio of 68.00 and a beta of 0.92.
Expedia (NASDAQ:EXPE) last issued its earnings results on Thursday, July 27th. The online travel company reported $0.89 EPS for the quarter, missing the Zacks’ 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 company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. On average, equities analysts anticipate that Expedia, Inc. will post $5.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a $0.30 dividend. This is an increase from Expedia’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, August 22nd. Expedia’s payout ratio is presently 53.08%.
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Several research firms recently commented on EXPE. BidaskClub cut Expedia from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut Expedia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. UBS AG reissued a “buy” rating and set a $178.00 target price (up from $155.00) on shares of Expedia in a research note on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and set a $160.00 target price (up from $135.00) on shares of Expedia in a research note on Sunday, July 30th. Finally, Credit Suisse Group set a $175.00 target price on Expedia and gave the stock a “buy” rating in a research note on Saturday, July 29th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Expedia currently has a consensus rating of “Buy” and a consensus target price of $159.73.
In other Expedia news, CEO Dara Khosrowshahi sold 86,228 shares of Expedia 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 $79,922,933.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lance A. Soliday sold 2,544 shares of Expedia stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $142.30, for a total value of $362,011.20. Following the completion of the transaction, the insider now owns 4,815 shares of the company’s stock, valued at $685,174.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,870 shares of company stock valued at $20,840,896. 20.95% of the stock is currently owned by insiders.
Expedia Company Profile
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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