Dock Street Asset Management Inc. boosted its position in Expedia, Inc. (NASDAQ:EXPE) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,681 shares of the online travel company’s stock after buying an additional 5,729 shares during the period. Expedia makes up 3.1% of Dock Street Asset Management Inc.’s holdings, making the stock its 14th largest position. Dock Street Asset Management Inc.’s holdings in Expedia were worth $6,655,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in Expedia by 16.6% in the second quarter. Bessemer Group Inc. now owns 1,039 shares of the online travel company’s stock worth $155,000 after buying an additional 148 shares during the period. Lyell Wealth Management LP raised its position in shares of Expedia by 43.8% in the second quarter. Lyell Wealth Management LP now owns 8,469 shares of the online travel company’s stock worth $1,261,000 after buying an additional 2,580 shares during the period. CIBC Asset Management Inc raised its position in shares of Expedia by 2.1% in the second quarter. CIBC Asset Management Inc now owns 18,510 shares of the online travel company’s stock worth $2,757,000 after buying an additional 387 shares during the period. Spinnaker Trust raised its position in shares of Expedia by 6.6% in the second quarter. Spinnaker Trust now owns 17,742 shares of the online travel company’s stock worth $2,643,000 after buying an additional 1,102 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Expedia by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 20,687 shares of the online travel company’s stock worth $3,081,000 after buying an additional 130 shares during the period. 81.22% of the stock is currently owned by institutional investors.
Expedia, Inc. (NASDAQ:EXPE) opened at 143.71 on Friday. The firm has a 50-day moving average of $150.98 and a 200 day moving average of $137.85. Expedia, Inc. has a 12-month low of $105.62 and a 12-month high of $161.00. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 67.63 and a beta of 0.92.
Expedia (NASDAQ:EXPE) last issued its quarterly earnings results on Thursday, July 27th. The online travel company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.94 by $0.05. Expedia had a return on equity of 10.98% and a net margin of 3.49%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm posted $0.83 earnings per share. Expedia’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Expedia, Inc. will post $5.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.30 dividend. The ex-dividend date is Tuesday, August 22nd. This is a boost from Expedia’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 0.84%. Expedia’s payout ratio is 53.08%.
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A number of research firms have recently issued reports on EXPE. Deutsche Bank AG reiterated a “buy” rating and set a $158.00 price objective (up from $138.00) on shares of Expedia in a research note on Saturday, April 29th. MKM Partners reiterated a “buy” rating and set a $165.00 price objective (up from $145.00) on shares of Expedia in a research note on Monday, May 8th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $165.00 price objective (up from $143.00) on shares of Expedia in a research note on Monday, May 1st. Oppenheimer Holdings, Inc. raised their target price on shares of Expedia from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Finally, Zacks Investment Research downgraded shares of Expedia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Expedia presently has an average rating of “Buy” and an average price target of $160.81.
In other Expedia news, CEO Dara Khosrowshahi sold 86,228 shares of the business’s stock in a transaction dated 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 sale, 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 document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Victor Kaufman sold 35,598 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.29, for a total value of $5,314,425.42. Following the sale, the insider now owns 167,673 shares in the company, valued at approximately $25,031,902.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,326 shares of company stock worth $20,478,885. 20.95% of the stock is owned by company insiders.
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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