Cohen & Steers Inc. Sells 49,270 Shares of Expedia, Inc. (EXPE)
Cohen & Steers Inc. decreased its stake in Expedia, Inc. (NASDAQ:EXPE) by 52.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,082 shares of the online travel company’s stock after selling 49,270 shares during the period. Cohen & Steers Inc.’s holdings in Expedia were worth $6,345,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. San Francisco Sentry Investment Group CA acquired a new stake in shares of Expedia in the second quarter valued at about $102,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Expedia in the third quarter valued at about $101,000. Fiduciary Trust Co. acquired a new stake in shares of Expedia in the second quarter valued at about $127,000. Sun Life Financial INC increased its stake in shares of Expedia by 10,987.5% in the second quarter. Sun Life Financial INC now owns 887 shares of the online travel company’s stock valued at $132,000 after buying an additional 879 shares during the period. Finally, Pathstone Family Office LLC increased its stake in shares of Expedia by 15,833.3% in the second quarter. Pathstone Family Office LLC now owns 956 shares of the online travel company’s stock valued at $143,000 after buying an additional 950 shares during the period. 84.20% of the stock is owned by institutional investors.
In other Expedia news, Director Dara Khosrowshahi sold 10,590 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $117.58, for a total value of $1,245,172.20. Following the completion of the sale, the director now owns 422,348 shares of the company’s stock, valued at $49,659,677.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Victor Kaufman sold 119,575 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $123.67, for a total value 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 approximately $20,971,340.25. The disclosure for this sale can be found here. Insiders sold 352,548 shares of company stock valued at $43,689,017 in the last three months. Insiders own 20.95% of the company’s stock.
Expedia (NASDAQ:EXPE) last announced its quarterly earnings data on Thursday, October 26th. The online travel company reported $2.51 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the business posted $2.41 EPS. The company’s revenue was up 14.9% on a year-over-year basis. equities research analysts expect that Expedia, Inc. will post 3.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Thursday, November 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.02%. Expedia’s dividend payout ratio (DPR) is presently 47.43%.
Several equities research analysts have recently weighed in on EXPE shares. Piper Jaffray Companies reissued a “buy” rating and issued a $173.00 price target on shares of Expedia in a research note on Thursday, August 31st. SunTrust Banks reissued a “buy” rating and issued a $190.00 price target on shares of Expedia in a research note on Monday, August 28th. Cowen reissued a “buy” rating and issued a $170.00 price target on shares of Expedia in a research note on Sunday, August 27th. BidaskClub raised Expedia from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Finally, Jefferies Group raised Expedia from a “hold” rating to a “buy” rating and increased their price target for the company from $140.00 to $180.00 in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $159.44.
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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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