June 20, 2023 – Quent Capital LLC, a well-known firm in the trading industry, recently revealed that it has trimmed its holdings in Expedia Group Inc. (NASDAQ:EXPE) by 88.0% in the first quarter. According to its most recent filing with the Securities and Exchange Commission (SEC), the firm owned 357 shares of the online travel company’s stock after selling 2,630 shares during the quarter. As of its most recent SEC filing, Quent Capital LLC’s holdings in Expedia Group were worth $35,000.
Expedia Group is an online travel company that provides travel products and services for both leisure and corporate travelers through various consumer brands, including Expedia.com and Hotels.com. The company operates through three segments: Retail, B2B, and Trivago.
The recent quarterly results released on May 4th showed that Expedia Group reported ($0.73) earnings per share for the quarter, which was ill-matched with analysts’ consensus estimates of ($0.46), coming in at ($0.27) lower than expected. The firm had revenue of $2.67 billion during the quarter compared to the consensus estimate of $2.69 billion. Experts predict that Expedia Group will generate $6.62 earnings per share for the current fiscal year.
Despite trimming down their investments by nearly 90%, Quent Capital LLC still holds on to some shares in this promising venture which is constantly reimagining itself with new technologies and fascinating marketing tactics – especially now when globalization has honed stakeholder priorities with utmost credibility.
It would be interesting to see how investors respond to this development, as more information regarding this trade must come forth soon from SEC filings or another source to clarify what instigated such a drastic move from Quent Capital LLC towards such significant equity within their portfolio holding with regards to about one of America’s iconic OTAs. Ultimately, investors should be aware of any changes in ownership of shares as they can indicate fluctuating market opinions and business developments for Expedia Group Inc.
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Institutional Investors Show Interest in Expedia Stock, Despite Mixed Opinions on Future Performance
Expedia Group Inc, a leading online travel company, has attracted the interest of various institutional investors who have either increased or decreased their stakes in the stock. Utah Retirement Systems and Wetherby Asset Management saw an increase of 0.4% and 3.9%, respectively, while Forum Financial Management and IHT Wealth Management LLC saw a growth in shares by 8.5% and 3.3%, respectively. Wellington Management Group LLP rounded off the list with a 0.6% increase in its stake. The combined ownership of hedge funds and other institutional investors is estimated to be around 89.84%.
Despite this influx of investment activity, research reports on Expedia have expressed mixed opinions on the future performance of the firm’s stock price with ratings ranging from sell to buy. Susquehanna downgraded its target price from $116.00 to $105.00 while Wedbush initiated coverage labeling it as neutral with a target price of $116.00 Meanwhile, Gordon Haskett upgraded its rating from “hold” to “buy” while Mizuho lowered its price objective from $120 to $110.
Expedia has remained relevant within the tourism industry by providing a wide selection of services for both leisure and business travellers worldwide through multiple consumer brands such as Expedia.com and Hotels.com that fall under its Retail segment which is one of three segments along with B2B and Trivago.
CAO Lance A Soliday recently sold 462 shares of Expedia’s stocks at an average price of $91.66 which totaled up to $42,346 leaving him with a valued amount of $872,328 after selling it all off.
As at June 20th, EXPE was being sold at $105.87 per share; having gone through fluctuating patterns over time such as having reached a peak value within one year at about approximately $124 whereas reaching an all time low valued at $82.39 within this same period of time. Its debt-to-equity ratio is 1.90, with a market capitalization of $15.68 billion dollars, a price-earnings ratio (P/E) of 53.74 and a beta of 1.60.