167,000 Shares in Expedia Group, Inc. (NASDAQ:EXPE) Bought by Corvex Management LP

Corvex Management LP purchased a new position in Expedia Group, Inc. (NASDAQ:EXPE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 167,000 shares of the online travel company’s stock, valued at approximately $28,744,000. Expedia Group accounts for about 1.4% of Corvex Management LP’s portfolio, making the stock its 14th biggest position. Corvex Management LP owned about 0.11% of Expedia Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. NN Investment Partners Holdings N.V. lifted its stake in Expedia Group by 18.4% in the first quarter. NN Investment Partners Holdings N.V. now owns 37,619 shares of the online travel company’s stock worth $6,475,000 after acquiring an additional 5,854 shares during the period. Maverick Capital Ltd. bought a new position in Expedia Group in the first quarter worth $3,075,000. MUFG Securities EMEA plc raised its holdings in Expedia Group by 228.2% in the first quarter. MUFG Securities EMEA plc now owns 605,823 shares of the online travel company’s stock worth $104,274,000 after purchasing an additional 421,251 shares in the last quarter. Turim 21 Investimentos Ltda. bought a new position in Expedia Group in the first quarter worth $21,481,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Expedia Group by 18.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,361 shares of the online travel company’s stock worth $3,160,000 after purchasing an additional 2,868 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

In other Expedia Group news, CAO Lance A. Soliday sold 262 shares of the company’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $170.13, for a total value of $44,574.06. Following the completion of the sale, the chief accounting officer now directly owns 7,601 shares in the company, valued at approximately $1,293,158.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Dzielak sold 65,000 shares of the company’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $172.00, for a total value of $11,180,000.00. Following the completion of the sale, the insider now owns 107,315 shares of the company’s stock, valued at $18,458,180. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,769 shares of company stock worth $28,818,931. Corporate insiders own 2.20% of the company’s stock.

EXPE has been the subject of a number of research reports. Wolfe Research initiated coverage on Expedia Group in a report on Wednesday, March 31st. They issued a “peer perform” rating and a $170.00 price objective for the company. Wells Fargo & Company raised their price target on Expedia Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, May 7th. BTIG Research raised their price target on Expedia Group from $180.00 to $210.00 and gave the company a “buy” rating in a report on Friday, May 7th. Truist raised their price target on Expedia Group from $170.00 to $237.00 in a report on Monday, April 19th. Finally, Citigroup raised their price target on Expedia Group from $160.00 to $179.00 in a report on Wednesday, May 12th. Thirteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $175.83.

NASDAQ:EXPE traded down $2.17 during trading hours on Thursday, reaching $160.25. The stock had a trading volume of 18,851 shares, compared to its average volume of 2,288,560. The company has a debt-to-equity ratio of 3.15, a current ratio of 1.01 and a quick ratio of 1.01. Expedia Group, Inc. has a 52 week low of $76.75 and a 52 week high of $187.93. The company’s 50 day moving average price is $167.76. The company has a market capitalization of $23.55 billion, a PE ratio of -11.63 and a beta of 1.75.

Expedia Group (NASDAQ:EXPE) last released its earnings results on Thursday, May 6th. The online travel company reported ($2.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.86) by $0.84. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.10 billion. Expedia Group had a negative return on equity of 46.51% and a negative net margin of 44.59%. The company’s revenue for the quarter was down 43.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.83) EPS. Sell-side analysts anticipate that Expedia Group, Inc. will post -2.33 EPS for the current fiscal year.

Expedia Group Company Profile

Expedia Group, Inc operates as an online travel company in the United States and internationally. The company operates through Retail, B2B, and trivago segments. Its brand portfolio include Brand Expedia, a full-service online travel brand with localized websites; Hotels.com for marketing and distributing lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; Orbitz, Travelocity, and CheapTickets travel websites; ebookers, an online EMEA travel agent for travelers an array of travel options; Hotwire, which offers travel booking services; CarRentals.com, an online car rental booking service; Classic Vacations, a luxury travel specialist; and Expedia Cruise, a provider of advice for travelers booking cruises.

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Institutional Ownership by Quarter for Expedia Group (NASDAQ:EXPE)

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