Zacks Investment Research downgraded shares of Expedia Group (NASDAQ:EXPE) from a buy rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Expedia is benefiting from its well performing HomeAway, Brand Expedia, Expedia Partner Solutions and Hotels.com. All these are aiding the company’s gross bookings and stayed room nights which remain the key driver of its top-line growth. Additionally, the company’s strong initiatives toward strengthening footprints in the domestic regions are driving its domestic stayed room nights. This remains a tailwind. We believe Expedia’s strength in Core OTA, Brand Expedia, Hotels.com, Expedia Partner Solutions and Egencia will continue to benefit its market position. The expansion of global lodging portfolio will also continue to aid the lodging revenues of Expedia. However, sluggishness in the company’s trivago segment remains an overhang. Also, intensifying competition in the online travel space is a concern. Notably, the stock has underperformed the industry it belongs to over a year.”
A number of other research firms also recently commented on EXPE. BidaskClub downgraded shares of Expedia Group from a hold rating to a sell rating in a report on Tuesday, October 9th. Evercore ISI started coverage on shares of Expedia Group in a report on Monday, October 15th. They set an outperform rating and a $140.00 price objective for the company. SunTrust Banks reaffirmed a buy rating and set a $180.00 price objective on shares of Expedia Group in a report on Tuesday, October 16th. Oppenheimer set a $155.00 price objective on shares of Expedia Group and gave the stock a buy rating in a report on Tuesday, October 23rd. Finally, Cowen set a $135.00 price objective on shares of Expedia Group and gave the stock a buy rating in a report on Monday, October 22nd. Thirteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Expedia Group has an average rating of Buy and a consensus target price of $143.92.
Expedia Group (NASDAQ:EXPE) last posted its quarterly earnings results on Thursday, October 25th. The online travel company reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.53. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.29 billion. Expedia Group had a net margin of 4.04% and a return on equity of 11.79%. During the same period last year, the business posted $2.51 EPS. Research analysts forecast that Expedia Group will post 4.56 EPS for the current year.
In related news, insider Lance A. Soliday sold 3,281 shares of Expedia Group stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $119.28, for a total transaction of $391,357.68. Following the completion of the transaction, the insider now directly owns 7,674 shares of the company’s stock, valued at approximately $915,354.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.96% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EXPE. State of Alaska Department of Revenue increased its position in Expedia Group by 5.8% in the 4th quarter. State of Alaska Department of Revenue now owns 38,808 shares of the online travel company’s stock valued at $4,370,000 after acquiring an additional 2,114 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Expedia Group in the 3rd quarter valued at about $2,073,000. Clearbridge Investments LLC increased its position in Expedia Group by 0.3% in the 3rd quarter. Clearbridge Investments LLC now owns 678,973 shares of the online travel company’s stock valued at $88,592,000 after acquiring an additional 2,290 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of Expedia Group by 7.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 739,342 shares of the online travel company’s stock worth $96,469,000 after buying an additional 49,053 shares during the period. Finally, Morgan Stanley grew its position in shares of Expedia Group by 8.9% during the 3rd quarter. Morgan Stanley now owns 1,065,996 shares of the online travel company’s stock worth $139,091,000 after buying an additional 86,901 shares during the period. 79.83% of the stock is owned by hedge funds and other institutional investors.
Expedia Group Company Profile
Expedia Group, Inc, together with its subsidiaries, operates as an online travel company in the United States and internationally. It operates through Core OTA, Trivago, HomeAway, and Egencia segments. The company facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers; and acts as an agent in the transactions.
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