Bank of America downgraded shares of Expedia Group (NASDAQ:EXPE – Free Report) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat Ratings reports. The firm currently has $156.00 price objective on the online travel company’s stock.
Several other equities research analysts also recently issued reports on EXPE. Mizuho increased their price target on Expedia Group from $130.00 to $140.00 and gave the stock a neutral rating in a report on Tuesday. StockNews.com downgraded Expedia Group from a buy rating to a hold rating in a report on Tuesday. Oppenheimer restated an outperform rating and issued a $175.00 price target on shares of Expedia Group in a report on Monday, February 5th. TheStreet upgraded Expedia Group from a c+ rating to a b- rating in a report on Thursday, November 30th. Finally, HSBC started coverage on Expedia Group in a report on Monday, October 23rd. They issued a hold rating and a $114.00 price target for the company. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $149.29.
Expedia Group Trading Down 17.8 %
Expedia Group announced that its board has initiated a share buyback plan on Thursday, November 2nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the online travel company to repurchase up to 30.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Robert J. Dzielak sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $134.50, for a total value of $9,415,000.00. Following the completion of the sale, the insider now directly owns 72,266 shares of the company’s stock, valued at $9,719,777. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Lance A. Soliday sold 477 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $136.53, for a total value of $65,124.81. Following the completion of the sale, the chief accounting officer now directly owns 9,931 shares of the company’s stock, valued at $1,355,879.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert J. Dzielak sold 70,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $134.50, for a total value of $9,415,000.00. Following the transaction, the insider now owns 72,266 shares in the company, valued at approximately $9,719,777. The disclosure for this sale can be found here. Insiders sold a total of 100,477 shares of company stock valued at $13,989,925 over the last three months. Insiders own 8.07% of the company’s stock.
Hedge Funds Weigh In On Expedia Group
Large investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new position in shares of Expedia Group during the second quarter worth approximately $594,000. City State Bank increased its stake in shares of Expedia Group by 157.3% during the fourth quarter. City State Bank now owns 193 shares of the online travel company’s stock worth $29,000 after purchasing an additional 118 shares during the period. CVA Family Office LLC bought a new position in shares of Expedia Group during the fourth quarter worth approximately $32,000. Salem Investment Counselors Inc. bought a new position in shares of Expedia Group during the first quarter worth approximately $44,000. Finally, Lindbrook Capital LLC increased its stake in shares of Expedia Group by 114.4% during the second quarter. Lindbrook Capital LLC now owns 268 shares of the online travel company’s stock worth $29,000 after purchasing an additional 143 shares during the period. Institutional investors own 91.15% of the company’s stock.
Expedia Group Company Profile
Expedia Group, Inc operates as an online travel company in the United States and internationally. The company operates through Retail, B2B, and trivago segments. Its brand portfolio includes Brand Expedia, a full-service online travel brand with localized websites; Hotels.com for marketing and distributing lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; Orbitz; Travelocity; Wotif Group; CheapTickets; ebookers; Expedia; Hotwire; CarRentals.com; Classic Vacations; and Expedia Cruise.
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