Los Angeles Capital Management LLC has significantly reduced its stake in Expedia Group, Inc. (NASDAQ: EXPE) by 37.5% during the second quarter of 2023. According to a recent disclosure with the Securities and Exchange Commission, the institutional investor now holds 642,802 shares after selling 386,315 shares in that period. The value of its remaining shares is approximately $108.4 million, equating to about 0.51% of the total stock.
Other large investors have also adjusted their positions in Expedia Group recently. For instance, Spire Wealth Management increased its holdings by 114.3%, now owning 150 shares valued at roughly $25,000. Meanwhile, McClarren Financial Advisors Inc. and Atlas Capital Advisors Inc. each acquired new stakes in the company, with valuations around $28,000. GFG Capital LLC and Trust Co. of Toledo NA also purchased new positions, valued at approximately $29,000 and $31,000, respectively. Currently, hedge funds and institutional investors own 90.76% of Expedia Group’s stock.
Stock Performance and Financial Overview
As of the latest trading session, shares of Expedia Group opened at $258.25. The company has experienced a 52-week low of $130.01 and a 52-week high of $264.20. Expedia Group boasts a market capitalization of $31.95 billion, a price-to-earnings (P/E) ratio of 31.65, and a price-to-earnings growth (P/E/G) ratio of 1.15. The firm also has a beta of 1.58, indicating higher volatility compared to the market.
In terms of liquidity, the company reports a quick ratio and current ratio of 0.75, along with a debt-to-equity ratio of 2.14, suggesting a relatively high level of debt.
Dividend Declaration and Insider Transactions
Expedia Group has declared a quarterly dividend of $0.40 per share, set to be paid on December 11, 2023. Shareholders on record as of November 19, 2023 will qualify for this distribution, which translates to an annualized dividend of $1.60 and a yield of 0.6%. The company’s current payout ratio stands at 15.31%.
In related news, Director Craig A. Jacobson sold 3,000 shares of Expedia stock on August 19, 2023, at an average price of $207.78, totaling $623,340. Following this sale, he retains 33,858 shares, valued at approximately $7.04 million, marking an 8.14% decrease in his ownership. Similarly, Chief Accounting Officer Lance A. Soliday sold 852 shares on August 20, 2023, for about $175,409, decreasing his position by 6.61%. Over the past ninety days, insiders have sold a total of 9,816 shares valued at $2.01 million, with insiders currently holding 9.13% of the stock.
Analyst Insights and Market Outlook
Several analysts have provided updated ratings for Expedia Group shares. Barclays raised its target price from $197.00 to $220.00, maintaining an “equal weight” rating. Oppenheimer increased its price objective from $250.00 to $290.00, recommending an “outperform” rating. Mizuho initiated coverage with a “neutral” rating and a target of $240.00. As of now, three research analysts have given Expedia Group a “Strong Buy” rating, while twelve have recommended a “Buy” and twenty-three have issued a “Hold” rating. The consensus rating remains “Hold,” with a price target of $244.03, according to MarketBeat.com.
Expedia Group, Inc. operates as a leading online travel company in both the United States and internationally. The company is structured through various segments, including B2C, B2B, and the trivago platform. Its B2C segment encompasses well-known brands such as Brand Expedia, Hotels.com, Vrbo, and Orbitz, among others, catering to diverse travel needs.
