Bank of Nova Scotia boosted its position in Expedia, Inc. (NASDAQ:EXPE) by 241.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,335 shares of the online travel company’s stock after purchasing an additional 66,717 shares during the period. Bank of Nova Scotia owned approximately 0.06% of Expedia worth $14,052,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA acquired a new stake in Expedia in the second quarter worth approximately $102,000. Fiduciary Trust Co. acquired a new stake in Expedia in the second quarter worth approximately $127,000. Sun Life Financial INC lifted its position in Expedia by 10,987.5% in the second quarter. Sun Life Financial INC now owns 887 shares of the online travel company’s stock worth $132,000 after purchasing an additional 879 shares during the period. Pathstone Family Office LLC lifted its position in Expedia by 15,833.3% in the second quarter. Pathstone Family Office LLC now owns 956 shares of the online travel company’s stock worth $143,000 after purchasing an additional 950 shares during the period. Finally, Dupont Capital Management Corp acquired a new stake in Expedia in the second quarter worth approximately $143,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.
A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $180.00 target price on shares of Expedia in a research report on Thursday, September 28th. Bank of America Corporation restated a “buy” rating and issued a $178.00 target price (down from $187.00) on shares of Expedia in a research report on Tuesday, September 26th. UBS AG restated a “buy” rating and issued a $170.00 target price (down from $178.00) on shares of Expedia in a research report on Friday, September 22nd. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Expedia in a research report on Thursday, September 14th. Finally, Zacks Investment Research downgraded Expedia from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $163.26.
In related news, EVP Mark D. Okerstrom sold 12,500 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $150.00, for a total transaction of $1,875,000.00. Following the sale, the executive vice president now directly owns 71,248 shares in the company, valued at $10,687,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Victor Kaufman sold 35,598 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $149.29, for a total transaction of $5,314,425.42. Following the sale, the insider now owns 167,673 shares in the company, valued at $25,031,902.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,826 shares of company stock worth $22,359,010. 20.95% of the stock is currently owned by company insiders.
Expedia (NASDAQ:EXPE) last issued its quarterly earnings data on Thursday, July 27th. The online travel company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). Expedia had a return on equity of 10.98% and a net margin of 3.49%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue was up 17.8% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Expedia’s previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, August 22nd. Expedia’s dividend payout ratio (DPR) is presently 56.87%.
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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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