Morgan Stanley cut shares of Expedia Group (NASDAQ:EXPE) from an overweight rating to an equal weight rating in a report published on Wednesday morning, Marketbeat Ratings reports. Morgan Stanley currently has $125.00 price target on the online travel company’s stock, down from their prior price target of $150.00.
Several other brokerages have also recently weighed in on EXPE. BidaskClub cut shares of Expedia Group from a hold rating to a sell rating in a research note on Tuesday, October 9th. Zacks Investment Research reaffirmed a buy rating and set a $136.00 price target on shares of Expedia Group in a research note on Tuesday, November 13th. TheStreet raised shares of Expedia Group from a c rating to a b rating in a research note on Thursday, October 25th. Telsey Advisory Group assumed coverage on shares of Expedia Group in a research note on Wednesday, November 28th. They set a market perform rating and a $115.00 price target for the company. They noted that the move was a valuation call. Finally, Barclays cut their price objective on Expedia Group from $165.00 to $160.00 and set an overweight rating for the company in a report on Friday, October 26th. Thirteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $143.92.
Shares of EXPE traded up $0.02 during mid-day trading on Wednesday, hitting $114.22. 1,001,063 shares of the company’s stock were exchanged, compared to its average volume of 1,693,133. The stock has a market capitalization of $17.10 billion, a P/E ratio of 30.70, a P/E/G ratio of 1.26 and a beta of 1.10. Expedia Group has a 52 week low of $98.52 and a 52 week high of $139.77. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63.
Expedia Group (NASDAQ:EXPE) last issued its quarterly earnings results on Thursday, October 25th. The online travel company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.53. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Expedia Group had a net margin of 4.04% and a return on equity of 11.79%. During the same period last year, the business earned $2.51 EPS. On average, sell-side analysts anticipate that Expedia Group will post 4.56 earnings per share for the current fiscal year.
In other news, insider Lance A. Soliday sold 3,281 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $119.28, for a total value of $391,357.68. Following the completion of the sale, the insider now owns 7,674 shares of the company’s stock, valued at approximately $915,354.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 20.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Buckley Wealth Management LLC acquired a new stake in Expedia Group during the 3rd quarter valued at $203,000. Advisor Partners LLC acquired a new stake in Expedia Group during the 3rd quarter valued at $203,000. Hilltop Holdings Inc. acquired a new stake in Expedia Group during the 2nd quarter valued at $206,000. Acadian Asset Management LLC acquired a new stake in Expedia Group during the 3rd quarter valued at $206,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Expedia Group during the 3rd quarter valued at $210,000. 79.83% of the stock is owned by institutional investors and hedge funds.
About Expedia Group
Expedia Group, Inc, together with its subsidiaries, operates as an online travel company in the United States and internationally. It operates through Core OTA, Trivago, HomeAway, and Egencia segments. The company facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers; and acts as an agent in the transactions.
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