Engine Capital Management LP Buys New Shares in Expedia Group, Inc. (NASDAQ:EXPE)

Engine Capital Management LP purchased a new position in Expedia Group, Inc. (NASDAQ:EXPE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 164,700 shares of the online travel company’s stock, valued at approximately $20,751,000. Expedia Group comprises 3.9% of Engine Capital Management LP’s investment portfolio, making the stock its 9th largest position. Engine Capital Management LP owned about 0.12% of Expedia Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of Expedia Group by 80.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 16,338 shares of the online travel company’s stock worth $2,480,000 after acquiring an additional 7,270 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Expedia Group by 1.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 343,389 shares of the online travel company’s stock valued at $47,302,000 after acquiring an additional 6,432 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Expedia Group by 18.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,867 shares of the online travel company’s stock worth $21,333,000 after purchasing an additional 23,939 shares in the last quarter. Swedbank AB lifted its stake in Expedia Group by 5.0% during the second quarter. Swedbank AB now owns 169,076 shares of the online travel company’s stock worth $21,302,000 after purchasing an additional 8,026 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Expedia Group by 33.7% during the first quarter. Advisors Asset Management Inc. now owns 7,927 shares of the online travel company’s stock valued at $1,092,000 after purchasing an additional 1,996 shares in the last quarter. 90.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXPE has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Expedia Group from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $140.00 price target on shares of Expedia Group in a research report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and set a $140.00 price objective (down previously from $145.00) on shares of Expedia Group in a report on Friday, August 9th. Citigroup lifted their target price on shares of Expedia Group from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Wedbush increased their price target on Expedia Group from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Eighteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Expedia Group presently has an average rating of “Hold” and an average target price of $148.00.

Expedia Group Stock Performance

Shares of EXPE opened at $144.04 on Tuesday. The firm’s 50 day moving average price is $132.17 and its two-hundred day moving average price is $128.09. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.76 and a current ratio of 0.76. Expedia Group, Inc. has a twelve month low of $92.48 and a twelve month high of $160.05. The firm has a market cap of $19.63 billion, a P/E ratio of 26.97, a PEG ratio of 0.51 and a beta of 1.79.

Expedia Group (NASDAQ:EXPE) last released its quarterly earnings results on Thursday, August 8th. The online travel company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.17 by $0.34. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.53 billion. Expedia Group had a return on equity of 47.55% and a net margin of 6.09%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. On average, analysts forecast that Expedia Group, Inc. will post 8.98 EPS for the current fiscal year.

Insider Activity

In other Expedia Group news, insider Robert J. Dzielak sold 12,602 shares of Expedia Group stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $131.50, for a total value of $1,657,163.00. Following the sale, the insider now directly owns 89,960 shares in the company, valued at approximately $11,829,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Robert J. Dzielak sold 5,417 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.60, for a total value of $729,128.20. Following the completion of the sale, the insider now owns 84,543 shares of the company’s stock, valued at approximately $11,379,487.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert J. Dzielak sold 12,602 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $131.50, for a total transaction of $1,657,163.00. Following the transaction, the insider now owns 89,960 shares in the company, valued at $11,829,740. The disclosure for this sale can be found here. 8.07% of the stock is owned by corporate insiders.

Expedia Group Profile

Expedia Group, Inc operates as an online travel company in the United States and internationally. The company operates through B2C, B2B, and trivago segments. Its B2C segment includes Brand Expedia, a full-service online travel brand offers various travel products and services; Hotels.com for lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com and CarRentals.com.