Great Lakes Advisors LLC Invests $1.48 Million in Expedia, Inc. (EXPE)
Great Lakes Advisors LLC purchased a new position in shares of Expedia, Inc. (NASDAQ:EXPE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,923 shares of the online travel company’s stock, valued at approximately $1,478,000.
Other large investors have also recently added to or reduced their stakes in the company. Tyers Asset Management LLC increased its stake in Expedia by 18.6% in the first quarter. Tyers Asset Management LLC now owns 3,056 shares of the online travel company’s stock worth $386,000 after buying an additional 480 shares in the last quarter. State Treasurer State of Michigan increased its stake in Expedia by 0.3% in the first quarter. State Treasurer State of Michigan now owns 39,584 shares of the online travel company’s stock worth $4,994,000 after buying an additional 100 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Expedia during the first quarter worth about $3,662,000. Willingdon Wealth Management purchased a new stake in Expedia during the first quarter worth about $2,270,000. Finally, Great West Life Assurance Co. Can increased its stake in Expedia by 1.7% in the first quarter. Great West Life Assurance Co. Can now owns 158,561 shares of the online travel company’s stock worth $20,068,000 after buying an additional 2,621 shares in the last quarter. Institutional investors and hedge funds own 84.42% of the company’s stock.
Shares of Expedia, Inc. (NASDAQ EXPE) opened at 143.99 on Wednesday. The stock’s 50 day moving average price is $150.80 and its 200 day moving average price is $138.80. Expedia, Inc. has a one year low of $105.62 and a one year high of $161.00. The stock has a market capitalization of $21.83 billion, a PE ratio of 67.76 and a beta of 0.92. Expedia also was the recipient of some unusual options trading on Monday. Investors bought 13,299 put options on the company. This represents an increase of approximately 440% compared to the typical daily volume of 2,463 put options.
Expedia (NASDAQ:EXPE) last announced its earnings results on Thursday, July 27th. The online travel company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by $0.05. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. Expedia had a net margin of 3.49% and a return on equity of 10.98%. Expedia’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. Equities research analysts predict that Expedia, Inc. will post $5.10 EPS for the current fiscal year.
The business 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%. The ex-dividend date is Tuesday, August 22nd. This is a boost from Expedia’s previous quarterly dividend of $0.28. Expedia’s dividend payout ratio is 56.87%.
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A number of equities research analysts have issued reports on the company. TheStreet upgraded Expedia from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated an “outperform” rating and set a $175.00 price target (up from $160.00) on shares of Expedia in a research note on Friday, July 28th. Credit Suisse Group set a $175.00 price target on Expedia and gave the company a “buy” rating in a research note on Saturday, July 29th. Stifel Nicolaus restated a “hold” rating and set a $160.00 price target (up from $135.00) on shares of Expedia in a research note on Sunday, July 30th. Finally, Jefferies Group LLC restated a “hold” rating and set a $140.00 price target on shares of Expedia in a research note on Sunday, July 30th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $162.60.
In other news, EVP Mark D. Okerstrom sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $150.41, for a total transaction of $1,880,125.00. Following the sale, the executive vice president now owns 71,248 shares in the company, valued at $10,716,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 86,228 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $154.12, for a total value of $13,289,459.36. Following the sale, the chief executive officer now owns 518,576 shares in the company, valued at approximately $79,922,933.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,826 shares of company stock worth $22,359,010. 20.88% of the stock is owned by insiders.
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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