Expedia, Inc. (NASDAQ:EXPE) Position Reduced by Cigna Investments Inc. New
Cigna Investments Inc. New decreased its stake in shares of Expedia, Inc. (NASDAQ:EXPE) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,771 shares of the online travel company’s stock after selling 249 shares during the period. Cigna Investments Inc. New’s holdings in Expedia were worth $711,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Expedia by 16.6% in the second quarter. Bessemer Group Inc. now owns 1,039 shares of the online travel company’s stock valued at $155,000 after buying an additional 148 shares during the period. CENTRAL TRUST Co increased its stake in shares of Expedia by 18.7% in the second quarter. CENTRAL TRUST Co now owns 1,059 shares of the online travel company’s stock valued at $158,000 after buying an additional 167 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Expedia during the first quarter valued at about $146,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Expedia by 6,905.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,261 shares of the online travel company’s stock valued at $159,000 after buying an additional 1,243 shares during the period. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Expedia during the second quarter valued at about $210,000. 80.96% of the stock is currently owned by institutional investors.
Shares of Expedia, Inc. (EXPE) opened at 144.51 on Friday. The stock’s 50 day moving average is $151.59 and its 200 day moving average is $136.95. Expedia, Inc. has a 1-year low of $105.62 and a 1-year high of $161.00. The company has a market capitalization of $21.91 billion, a PE ratio of 68.00 and a beta of 0.92.
Expedia (NASDAQ:EXPE) last posted its earnings results on Thursday, July 27th. The online travel company reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.05. Expedia had a return on equity of 10.98% and a net margin of 3.49%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Expedia, Inc. will post $5.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Expedia’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, August 22nd. Expedia’s payout ratio is presently 53.08%.
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Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Expedia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group set a $151.00 target price on shares of Expedia and gave the company a “buy” rating in a research note on Sunday, April 30th. BidaskClub cut shares of Expedia from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC restated a “hold” rating and set a $140.00 price target on shares of Expedia in a report on Sunday, July 30th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $173.00 price target on shares of Expedia in a report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $159.73.
In other Expedia news, EVP Mark D. Okerstrom sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $150.00, for a total transaction of $1,875,000.00. Following the sale, the executive vice president now directly owns 71,248 shares of the company’s stock, valued at approximately $10,687,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Victor Kaufman sold 35,598 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $149.29, for a total transaction of $5,314,425.42. Following the sale, the insider now directly owns 167,673 shares in the company, valued at $25,031,902.17. The disclosure for this sale can be found here. Insiders have sold a total of 136,870 shares of company stock worth $20,840,896 over the last three months. Insiders own 20.95% of the company’s stock.
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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