Engineers Gate Manager LP grew its stake in Expedia, Inc. (NASDAQ:EXPE) by 176.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,683 shares of the online travel company’s stock after acquiring an additional 26,615 shares during the quarter. Expedia accounts for 0.5% of Engineers Gate Manager LP’s holdings, making the stock its 15th biggest position. Engineers Gate Manager LP’s holdings in Expedia were worth $6,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new stake in Expedia during the 3rd quarter worth approximately $101,000. San Francisco Sentry Investment Group CA bought a new stake in Expedia during the 2nd quarter worth approximately $102,000. Fiduciary Trust Co. bought a new stake in Expedia during the 2nd quarter worth approximately $127,000. Sun Life Financial INC increased its stake in Expedia by 10,987.5% during the 2nd quarter. Sun Life Financial INC now owns 887 shares of the online travel company’s stock worth $132,000 after purchasing an additional 879 shares in the last quarter. Finally, Pathstone Family Office LLC increased its stake in Expedia by 15,833.3% during the 2nd quarter. Pathstone Family Office LLC now owns 956 shares of the online travel company’s stock worth $143,000 after purchasing an additional 950 shares in the last quarter. 84.20% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the company. SunTrust Banks reissued a “buy” rating and set a $190.00 target price on shares of Expedia in a research note on Monday, October 23rd. Deutsche Bank reissued a “buy” rating and set a $171.00 target price (down from $175.00) on shares of Expedia in a research note on Tuesday, October 24th. BidaskClub raised Expedia from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Jefferies Group raised Expedia from a “hold” rating to a “buy” rating and increased their target price for the stock from $140.00 to $180.00 in a research note on Thursday, August 24th. Finally, Cowen reissued a “buy” rating and set a $170.00 target price on shares of Expedia in a research note on Sunday, August 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $159.61.
Expedia (NASDAQ:EXPE) last issued its quarterly 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). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.98 billion. Expedia had a return on equity of 10.71% and a net margin of 4.09%. Expedia’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.41 earnings per share. equities research analysts predict that Expedia, Inc. will post 3.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, November 15th. Expedia’s payout ratio is presently 47.43%.
In other news, Director Dara Khosrowshahi sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $125.00, for a total value of $18,750,000.00. Following the completion of the sale, the director now owns 522,348 shares of the company’s stock, valued at approximately $65,293,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Victor Kaufman sold 119,575 shares of the 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. In the last three months, insiders sold 352,548 shares of company stock valued at $43,689,017. 20.88% of the stock is currently owned by insiders.
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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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