Expedia Group, Inc. (NASDAQ:EXPE) recently experienced a significant increase in its stock ownership by Allspring Global Investments Holdings LLC. According to information disclosed to the Securities and Exchange Commission (SEC), Allspring Global Investments Holdings LLC grew its position in Expedia Group by an impressive 788.8% during the second quarter of this year. This institutional investor now owns 77,140 shares of the online travel company’s stock after acquiring an additional 68,461 shares.
Based on the latest SEC filing, Allspring Global Investments Holdings LLC’s stake in Expedia Group is approximately worth $8,438,000, accounting for about 0.05% of the company’s total value. The surge in ownership by this institutional investor indicates a strengthening belief in Expedia Group’s long-term growth prospects.
It is noteworthy that Expedia Group recently announced its earnings results for the second quarter. On Thursday, August 3rd, the online travel company reported earnings per share of $2.34 for the quarter, surpassing analysts’ consensus estimate of $1.80 by $0.54. This positive surprise in earnings highlights Expedia Group’s ability to generate higher profits than expected.
Furthermore, Expedia Group exhibited strong financial performance with a return on equity of 26.36% and a net margin of 7.33%. These figures demonstrate the company’s efficiency in utilizing shareholders’ investments and its ability to generate profits from its operations.
During the same period, Expedia Group achieved revenue of $3.36 billion, which was slightly below analysts’ consensus estimate of $3.37 billion. Despite this slight miss in revenue expectations, it is important to note that overall financial performance remains robust.
Looking ahead into the future fiscal year, equities research analysts anticipate that Expedia Group will post an EPS (earnings per share) figure of 7.3 – an encouraging outlook for investors.
In other news related to the company, insider Robert J. Dzielak recently sold 6,000 shares of Expedia Group’s stock on Tuesday, August 29th. The shares were sold at an average price of $110.00 per share, resulting in a total transaction value of $660,000.00. As a result of this sale, Dzielak’s direct ownership now includes 75,750 shares of the company’s stock, valued at approximately $8,332,500.
It is important to note that such insider transactions are required to be disclosed through filing documents with the Securities & Exchange Commission (SEC). Investors and market observers can access these filings through the SEC website for complete information and transparency.
Overall, Expedia Group showcases promising growth potential as exemplified by the significant increase in its ownership by Allspring Global Investments Holdings LLC. Coupled with strong earnings results and positive financial performance, Expedia Group remains an attractive investment option for discerning investors seeking long-term prospects in the online travel industry.
Shift in Ownership and Investor Sentiment: Expedia Group Sees Hedge Funds and Institutional Investors Making Moves
Expedia Group, a leading online travel company, has seen some significant changes in its ownership structure recently. Notably, hedge funds and other institutional investors have made adjustments to their positions in the company, indicating a potential shift in sentiment towards Expedia Group.
One such investor is Almanack Investment Partners LLC., which acquired a new position in Expedia Group during the third quarter valued at approximately $26,000. This move suggests that Almanack Investment Partners sees potential value and growth opportunities in the company.
Similarly, CoreCap Advisors LLC also purchased a new stake in Expedia Group during the fourth quarter worth $28,000. This further demonstrates the interest from institutional investors in Expedia Group and their confidence in its future prospects.
Clear Street Markets LLC took a different approach, increasing its stake in Expedia Group by 88.3% during the first quarter. With Clear Street Markets now owning 290 shares of Expedia’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter, it seems they too believe that the company has room for further growth.
Money Concepts Capital Corp took an even more bullish stance on Expedia Group, increasing its stake by a staggering 626.8% during the fourth quarter. Now owning 407 shares worth $36,000 after acquiring an additional 351 shares, Money Concepts Capital Corp seems to have high expectations for Expedia’s performance moving forward.
Lastly, HM Payson & Co made an exciting move by increasing its stake in Expedia Group by a whopping 3,900% during the first quarter. With HM Payson & Co now holding 400 shares of the online travel company’s stock worth $39,000 after acquiring an additional 390 shares recently, it is clear that they believe strongly in the future prospects of Expedia Group.
It is important to note that hedge funds and other institutional investors currently own approximately 91.15% of Expedia Group’s stock, suggesting a high degree of confidence in the company among these sophisticated investors.
On September 3, 2023, Expedia Group’s stock (NASDAQ: EXPE) traded at $109.61 during trading on Friday. This marked a slight increase of $1.22 from the previous day’s closing price. The trading volume reached 1,300,912 shares, compared to an average daily volume of 2,584,729 shares.
Expedia Group had a one-year low of $82.39 and a one-year high of $124.95, reflecting its volatility over the past year. The company has a debt-to-equity ratio of 1.94 and a current ratio of 0.83, indicating its financial stability.
With a market capitalization of $15.71 billion and a price-to-earnings ratio of 19.08, Expedia Group appears to be in line with industry standards. Moreover, its price-to-earnings-growth ratio stands at an attractive level of 0.55, suggesting that the company’s stock is undervalued relative to its expected earnings growth.
Several research firms have provided their insights on Expedia Group’s prospects as well. TD Cowen lowered their target price for the stock from $125.00 to $110.00 but maintained an “outperform” rating for the company in their research report on August 4th.
Wedbush initiated coverage on Expedia Group with a “neutral” rating and set a price objective of $116.00 per share on June 5th. StockNews.com also initiated coverage on the company with a “buy” rating on August 17th.
Gordon Haskett upgraded Expedia Group from a “hold” rating to a “buy” rating on May 16th, signaling increasing confidence in its performance outlook.
Despite these positive ratings, Piper Sandler revised their price objective downward from $135.00 to $125.00 on May 5th.
Overall, two analysts have given a sell rating, ten have given a hold rating, and eleven have issued a buy rating for Expedia Group, according to data from Bloomberg. The company currently holds a consensus rating of “Hold” with an average target price of $129.12.
In conclusion, Expedia Group has experienced notable changes in its ownership structure, with hedge funds and institutional investors making significant moves. While the stock’s performance has been slightly volatile over the past year, various research firms remain cautiously optimistic about its future prospects. As always, investors should conduct thorough due diligence before making any investment decisions regarding Expedia Group.