Lord Abbett & CO. LLC cut its position in shares of Expedia, Inc. (NASDAQ:EXPE) by 16.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 75,712 shares of the online travel company’s stock after selling 15,338 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Expedia were worth $11,277,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of EXPE. Vanguard Group Inc. boosted its position in Expedia by 3.7% during the second quarter. Vanguard Group Inc. now owns 12,045,217 shares of the online travel company’s stock valued at $1,794,135,000 after purchasing an additional 428,656 shares during the last quarter. BlackRock Inc. grew its stake in shares of Expedia by 2.0% in the 2nd quarter. BlackRock Inc. now owns 7,990,536 shares of the online travel company’s stock valued at $1,190,191,000 after purchasing an additional 157,847 shares during the period. Jennison Associates LLC grew its stake in shares of Expedia by 17.6% in the 2nd quarter. Jennison Associates LLC now owns 3,998,193 shares of the online travel company’s stock valued at $595,531,000 after purchasing an additional 599,037 shares during the period. FMR LLC lifted its holdings in Expedia by 4.8% during the 2nd quarter. FMR LLC now owns 2,481,274 shares of the online travel company’s stock worth $369,586,000 after buying an additional 112,581 shares in the last quarter. Finally, Steadfast Capital Management LP lifted its stake in shares of Expedia by 15.6% in the 2nd quarter. Steadfast Capital Management LP now owns 2,041,580 shares of the online travel company’s stock valued at $304,093,000 after purchasing an additional 274,760 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.
In other news, EVP Mark D. Okerstrom sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $150.41, for a total transaction of $1,880,125.00. Following the transaction, the executive vice president now owns 71,248 shares in the company, valued at approximately $10,716,411.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Victor Kaufman sold 119,575 shares of Expedia stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $123.67, for a total transaction of $14,787,840.25. Following the completion of the sale, the insider now directly owns 169,575 shares of the company’s stock, valued at $20,971,340.25. The disclosure for this sale can be found here. Insiders sold 204,458 shares of company stock worth $25,573,970 in the last three months. Insiders own 20.95% of the company’s stock.
Expedia, Inc. (NASDAQ:EXPE) traded up $3.42 during trading hours on Friday, hitting $120.74. 3,817,300 shares of the stock traded hands, compared to its average volume of 2,048,408. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $17,890.60, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.83 and a beta of 0.90. Expedia, Inc. has a 12-month low of $111.88 and a 12-month high of $161.00.
Expedia (NASDAQ:EXPE) last issued its quarterly earnings results on Thursday, October 26th. The online travel company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($0.10). Expedia had a net margin of 4.09% and a return on equity of 10.71%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the firm earned $2.41 EPS. Expedia’s revenue for the quarter was up 14.9% compared to the same quarter last year. equities research analysts expect that Expedia, Inc. will post 3.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, November 15th. Expedia’s dividend payout ratio (DPR) is presently 47.43%.
TRADEMARK VIOLATION NOTICE: “Lord Abbett & CO. LLC Sells 15,338 Shares of Expedia, Inc. (NASDAQ:EXPE)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/11/lord-abbett-co-llc-trims-stake-in-expedia-inc-expe.html.
A number of research firms recently commented on EXPE. BidaskClub cut shares of Expedia from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Bank of America Corporation restated a “buy” rating and issued a $178.00 price objective (down previously from $187.00) on shares of Expedia in a research report on Tuesday, September 26th. Zacks Investment Research cut Expedia from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price on shares of Expedia in a report on Thursday, September 28th. Finally, Cowen and Company set a $135.00 price objective on shares of Expedia and gave the stock a “buy” rating in a research note on Sunday, October 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $159.61.
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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