Expedia, Inc. (EXPE) Shares Gap Down on Analyst Downgrade

Expedia, Inc. (NASDAQ:EXPE) gapped down before the market opened on Monday after J P Morgan Chase & Co lowered their price target on the stock from $153.00 to $129.00. The stock had previously closed at $124.04, but opened at $123.79. J P Morgan Chase & Co currently has a neutral rating on the stock. Expedia shares last traded at $120.11, with a volume of 4,701,123 shares.

Several other equities research analysts also recently weighed in on the company. Cowen and Company set a $135.00 price target on Expedia and gave the stock a “buy” rating in a report on Sunday. Credit Suisse Group set a $147.00 price target on Expedia and gave the stock a “hold” rating in a report on Friday. Barclays PLC decreased their price target on Expedia from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Friday. Citigroup Inc. reaffirmed a “buy” rating and set a $170.00 price target (down from $180.00) on shares of Expedia in a report on Friday. Finally, Stifel Nicolaus decreased their price target on Expedia from $160.00 to $140.00 and set a “hold” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $159.61.

In other Expedia news, EVP Mark D. Okerstrom sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $150.00, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Victor Kaufman sold 35,598 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.29, for a total value of $5,314,425.42. Following the completion of 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. Over the last three months, insiders sold 60,598 shares of company stock worth $9,069,550. 20.88% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of EXPE. Balyasny Asset Management LLC acquired a new stake in Expedia in the 2nd quarter worth about $107,942,000. Jennison Associates LLC boosted its stake in Expedia by 17.6% in the 2nd quarter. Jennison Associates LLC now owns 3,998,193 shares of the online travel company’s stock worth $595,531,000 after buying an additional 599,037 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in Expedia in the 2nd quarter worth about $86,569,000. Artisan Partners Limited Partnership boosted its stake in Expedia by 61.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,437,446 shares of the online travel company’s stock worth $214,108,000 after buying an additional 549,366 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Expedia by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,045,217 shares of the online travel company’s stock worth $1,794,135,000 after buying an additional 428,656 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a 50 day moving average price of $145.18 and a 200 day moving average price of $145.69. The firm has a market cap of $18.23 billion, a PE ratio of 56.57 and a beta of 0.93.

Expedia (NASDAQ:EXPE) last issued its earnings results on Thursday, October 26th. The online travel company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($0.10). Expedia had a return on equity of 10.71% and a net margin of 4.09%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the company earned $2.41 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Expedia, Inc. will post $4.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.00%. Expedia’s payout ratio is currently 47.43%.

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Expedia Company Profile

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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