Harris Associates L P Has $30.78 Million Position in Expedia, Inc. (EXPE)
Harris Associates L P trimmed its stake in shares of Expedia, Inc. (NASDAQ:EXPE) by 31.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 206,649 shares of the online travel company’s stock after selling 93,655 shares during the quarter. Harris Associates L P owned 0.14% of Expedia worth $30,780,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of Expedia by 2.9% during the 2nd quarter. Swiss National Bank now owns 450,370 shares of the online travel company’s stock valued at $67,083,000 after purchasing an additional 12,700 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Expedia by 7.7% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 309,948 shares of the online travel company’s stock valued at $39,105,000 after purchasing an additional 22,056 shares during the period. OZ Management LP bought a new stake in shares of Expedia during the 2nd quarter valued at $1,892,000. Hartwell J M Limited Partnership raised its stake in shares of Expedia by 229.1% during the 2nd quarter. Hartwell J M Limited Partnership now owns 28,975 shares of the online travel company’s stock valued at $4,316,000 after purchasing an additional 20,170 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Expedia by 14.9% during the 2nd quarter. Franklin Resources Inc. now owns 663,900 shares of the online travel company’s stock valued at $98,888,000 after purchasing an additional 86,000 shares during the period. Institutional investors own 84.37% of the company’s stock.
A number of research firms recently issued reports on EXPE. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price objective on shares of Expedia in a research note on Thursday. Bank of America Corporation reiterated a “buy” rating and set a $178.00 price objective (down from $187.00) on shares of Expedia in a research note on Tuesday, September 26th. UBS AG reiterated a “buy” rating and set a $170.00 price objective (down from $178.00) on shares of Expedia in a research note on Friday, September 22nd. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Expedia in a research note on Thursday, September 14th. Finally, Zacks Investment Research lowered Expedia from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $163.26.
Expedia, Inc. (EXPE) traded up 0.77% on Friday, reaching $143.94. The company’s stock had a trading volume of 1,422,378 shares. The company has a market capitalization of $21.83 billion, a PE ratio of 67.74 and a beta of 0.97. Expedia, Inc. has a one year low of $108.50 and a one year high of $161.00. The firm has a 50-day moving average of $146.32 and a 200-day moving average of $141.84.
Expedia (NASDAQ:EXPE) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts predict that Expedia, Inc. will post $5.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Tuesday, August 22nd. This is a positive change from Expedia’s previous quarterly dividend of $0.28. Expedia’s payout ratio is 56.87%.
In other Expedia news, Vice Chairman Victor Kaufman sold 35,598 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $149.29, for a total transaction of $5,314,425.42. Following the completion of the transaction, the insider now owns 167,673 shares in the company, valued at $25,031,902.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 86,228 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $154.12, for a total value of $13,289,459.36. Following the transaction, the chief executive officer now owns 518,576 shares of the company’s stock, valued at approximately $79,922,933.12. The disclosure for this sale can be found here. Insiders have sold 146,826 shares of company stock valued at $22,359,010 in the last 90 days. Company insiders own 20.95% of the company’s stock.
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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