Hound Partners LLC has reduced its stake in Expedia Group, Inc. (NASDAQ: EXPE) by 17.0% during the second quarter of 2023, according to a report from Holdings Channel. The firm now holds 351,025 shares of the online travel company after selling 71,772 shares during the quarter. This change positions Expedia Group as the fifth-largest investment in Hound Partners’ portfolio, accounting for approximately 8.0% of its total holdings. As of its most recent filing with the Securities and Exchange Commission (SEC), Hound Partners’ stake in Expedia is valued at about $59.2 million.
Several other institutional investors also adjusted their positions in Expedia Group during this period. For instance, Spire Wealth Management increased its holdings by 114.3%, now owning 150 shares worth approximately $25,000 after acquiring an additional 80 shares. GFG Capital LLC and Trust Co. of Toledo NA OH both established new positions valued at approximately $29,000 and $31,000, respectively. Additionally, First Pacific Financial boosted its stake by 60.0%, bringing its total to 240 shares valued at $40,000. Overall, institutional investors hold around 90.76% of Expedia Group’s shares.
Expedia Group’s Stock Performance and Dividend Announcement
On Friday, Expedia Group’s stock opened at $274.21. The company has experienced a 52-week low of $130.01 and a high of $282.96. Its stock reflects a market capitalization of $33.6 billion with a price-to-earnings (P/E) ratio of 26.24 and a debt-to-equity ratio of 1.72. The company’s recent quarterly dividend of $0.40 per share was paid to shareholders on December 11, 2023, with an annualized dividend yield of 0.6%. The ex-dividend date was set for November 19, 2023, and Expedia Group’s current payout ratio stands at 15.31%.
Analyst Ratings and Insider Transactions
Recent analysts’ reports show varying opinions on Expedia Group’s stock. Mizuho raised its price target from $240.00 to $270.00, maintaining a “neutral” rating. Barclays also increased its price objective from $197.00 to $220.00, while UBS Group adjusted its target from $209.00 to $234.00, both retaining a “neutral” rating. Susquehanna and Robert W. Baird similarly increased their targets, with Baird setting a target of $280.00 and an “outperform” rating. Current consensus ratings indicate two analysts rated the stock as a “Strong Buy,” thirteen as “Buy,” and twenty-five as “Hold,” leading to an average rating of “Hold” with a consensus target price of $265.78.
In terms of insider activity, Director Madhumita Moina Banerjee sold 1,000 shares on December 1, 2023, at an average price of $258.00, totaling $258,000.00. Following this transaction, Banerjee holds 2,916 shares valued at approximately $752,328. Similarly, Chief Accounting Officer Lance A. Soliday sold 849 shares on November 21, 2023, for a total of $210,619.92. Recent insider transactions indicate that insiders have sold a total of 4,849 shares worth $1.28 million in the past ninety days, with insiders retaining 9.13% ownership of the company.
Expedia Group, Inc. operates as an online travel company, providing a variety of travel products and services through its B2C and B2B segments. Its brands include Brand Expedia, Hotels.com, and Vrbo, among others. As the travel industry continues to evolve, the company’s performance remains a focal point for investors and analysts alike.
