OppenheimerFunds Inc. Cuts Holdings in Expedia Inc (EXPE)
OppenheimerFunds Inc. decreased its holdings in shares of Expedia Inc (NASDAQ:EXPE) by 90.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,267 shares of the online travel company’s stock after selling 112,266 shares during the period. OppenheimerFunds Inc.’s holdings in Expedia were worth $1,469,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New Mexico Educational Retirement Board increased its position in Expedia by 3.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 11,728 shares of the online travel company’s stock valued at $1,405,000 after purchasing an additional 400 shares during the period. CIBC Asset Management Inc increased its position in Expedia by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 18,940 shares of the online travel company’s stock valued at $2,726,000 after purchasing an additional 430 shares during the period. Dupont Capital Management Corp increased its position in Expedia by 90.9% during the 4th quarter. Dupont Capital Management Corp now owns 1,046 shares of the online travel company’s stock valued at $125,000 after purchasing an additional 498 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Expedia by 3.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 17,611 shares of the online travel company’s stock valued at $2,535,000 after purchasing an additional 556 shares during the period. Finally, Prudential Financial Inc. increased its position in Expedia by 0.3% during the 3rd quarter. Prudential Financial Inc. now owns 169,986 shares of the online travel company’s stock valued at $24,468,000 after purchasing an additional 570 shares during the period. 80.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Expedia Inc (NASDAQ EXPE) opened at $109.53 on Wednesday. The company has a market cap of $17,375.65, a P/E ratio of 31.44, a P/E/G ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.70 and a quick ratio of 0.70. Expedia Inc has a 12 month low of $98.52 and a 12 month high of $161.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 7th. Expedia’s payout ratio is 50.63%.
In other Expedia news, insider Lance A. Soliday sold 2,401 shares of Expedia stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $120.37, for a total transaction of $289,008.37. Following the completion of the sale, the insider now directly owns 5,744 shares in the company, valued at approximately $691,405.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 20.88% of the company’s stock.
A number of research firms have commented on EXPE. Zacks Investment Research raised shares of Expedia from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Tuesday, January 16th. BidaskClub raised shares of Expedia from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. SunTrust Banks lifted their price objective on shares of Expedia to $180.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. They noted that the move was a valuation call. Morgan Stanley raised shares of Expedia from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 10th. Finally, Vetr downgraded shares of Expedia from a “strong-buy” rating to a “buy” rating and set a $140.63 price objective on the stock. in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $148.52.
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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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