Dai Ichi Life Insurance Company Ltd Reduces Position in Expedia, Inc. (EXPE)
Dai Ichi Life Insurance Company Ltd lowered its stake in Expedia, Inc. (NASDAQ:EXPE) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,239 shares of the online travel company’s stock after selling 501 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Expedia were worth $1,078,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Cleararc Capital Inc. boosted its holdings in Expedia by 0.5% in the first quarter. Cleararc Capital Inc. now owns 2,948 shares of the online travel company’s stock worth $372,000 after purchasing an additional 16 shares during the last quarter. Merriman Wealth Management LLC boosted its holdings in Expedia by 1.4% in the second quarter. Merriman Wealth Management LLC now owns 2,139 shares of the online travel company’s stock worth $319,000 after purchasing an additional 29 shares during the last quarter. Blair William & Co. IL boosted its holdings in Expedia by 0.6% in the second quarter. Blair William & Co. IL now owns 4,998 shares of the online travel company’s stock worth $744,000 after purchasing an additional 30 shares during the last quarter. Stephens Inc. AR boosted its holdings in Expedia by 1.9% in the first quarter. Stephens Inc. AR now owns 2,875 shares of the online travel company’s stock worth $363,000 after purchasing an additional 53 shares during the last quarter. Finally, Quantum Capital Management boosted its holdings in Expedia by 2.6% in the first quarter. Quantum Capital Management now owns 2,102 shares of the online travel company’s stock worth $265,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 84.42% of the company’s stock.
Expedia, Inc. (EXPE) opened at 142.13 on Friday. The firm has a 50 day moving average of $147.25 and a 200-day moving average of $141.20. The stock has a market capitalization of $21.55 billion, a PE ratio of 66.88 and a beta of 0.97. Expedia, Inc. has a 52 week low of $105.62 and a 52 week high of $161.00.
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). The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. Expedia had a net margin of 3.49% and a return on equity of 10.98%. Expedia’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. On average, equities analysts predict that Expedia, Inc. will post $5.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.84%. This is a boost from Expedia’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, August 22nd. Expedia’s dividend payout ratio is 56.87%.
In other news, EVP Mark D. Okerstrom sold 12,500 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $150.41, for a total value of $1,880,125.00. Following the completion of the sale, the executive vice president now directly owns 71,248 shares in the company, valued at $10,716,411.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dara Khosrowshahi sold 86,228 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $154.12, for a total transaction of $13,289,459.36. Following the completion of the sale, the chief executive officer now owns 518,576 shares of the company’s stock, valued at $79,922,933.12. The disclosure for this sale can be found here. Insiders sold 146,826 shares of company stock valued at $22,359,010 over the last quarter. Company insiders own 20.95% of the company’s stock.
Several research analysts have weighed in on EXPE shares. Stifel Nicolaus reiterated a “hold” rating and issued a $160.00 price target on shares of Expedia in a research report on Thursday, September 7th. Cowen and Company reiterated a “buy” rating on shares of Expedia in a research report on Friday, July 28th. TheStreet upgraded shares of Expedia from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Cantor Fitzgerald reiterated a “hold” rating on shares of Expedia in a research report on Monday, June 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $170.00 price target (up from $135.00) on shares of Expedia in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $163.02.
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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