Kayne Anderson Rudnick Investment Management LLC Reduces Position in Expedia, Inc. (NASDAQ:EXPE)

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Expedia, Inc. (NASDAQ:EXPE) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,707 shares of the online travel company’s stock after selling 655 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Expedia were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Cleararc Capital Inc. raised its position in shares of Expedia by 0.5% in the 1st quarter. Cleararc Capital Inc. now owns 2,948 shares of the online travel company’s stock worth $372,000 after acquiring an additional 16 shares in the last quarter. Merriman Wealth Management LLC increased its position in Expedia by 1.4% during the 2nd quarter. Merriman Wealth Management LLC now owns 2,139 shares of the online travel company’s stock valued at $319,000 after buying an additional 29 shares in the last quarter. Blair William & Co. IL increased its position in Expedia by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 4,998 shares of the online travel company’s stock valued at $744,000 after buying an additional 30 shares in the last quarter. Stephens Inc. AR increased its position in Expedia by 1.9% during the 1st quarter. Stephens Inc. AR now owns 2,875 shares of the online travel company’s stock valued at $363,000 after buying an additional 53 shares in the last quarter. Finally, Quantum Capital Management increased its position in Expedia by 2.6% during the 1st quarter. Quantum Capital Management now owns 2,102 shares of the online travel company’s stock valued at $265,000 after buying an additional 54 shares in the last quarter. Institutional investors own 84.42% of the company’s stock.

A number of analysts have commented on EXPE shares. Deutsche Bank AG reissued a “buy” rating and issued a $175.00 target price (up previously from $158.00) on shares of Expedia in a report on Wednesday, July 26th. Cowen and Company reissued a “buy” rating and issued a $170.00 target price on shares of Expedia in a report on Sunday, August 27th. Morgan Stanley restated an “equal weight” rating and issued a $170.00 price target (up from $135.00) on shares of Expedia in a research note on Tuesday, July 18th. Zacks Investment Research downgraded Expedia from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Citigroup Inc. upgraded Expedia from a “neutral” rating to a “buy” rating and lowered their target price for the company from $147.89 to $130.00 in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Expedia has an average rating of “Buy” and an average price target of $163.02.

In related news, EVP Mark D. Okerstrom sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $150.41, for a total transaction of $1,880,125.00. Following the transaction, the executive vice president now owns 71,248 shares of the company’s stock, valued at $10,716,411.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 86,228 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $154.12, for a total transaction of $13,289,459.36. Following the transaction, the chief executive officer now directly owns 518,576 shares in the company, valued at approximately $79,922,933.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,826 shares of company stock worth $22,359,010. 20.95% of the stock is owned by insiders.

Shares of Expedia, Inc. (NASDAQ:EXPE) opened at 143.37 on Friday. The firm’s 50-day moving average price is $147.59 and its 200-day moving average price is $141.04. Expedia, Inc. has a 12-month low of $105.62 and a 12-month high of $161.00. The stock has a market cap of $21.74 billion, a price-to-earnings ratio of 67.47 and a beta of 0.97.

Expedia (NASDAQ:EXPE) last released 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). The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Expedia had a return on equity of 10.98% and a net margin of 3.49%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. On average, analysts forecast that Expedia, Inc. will post $5.06 EPS for the current fiscal year.

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. The ex-dividend date was Tuesday, August 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.84%. This is an increase from Expedia’s previous quarterly dividend of $0.28. Expedia’s payout ratio is currently 56.87%.

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Expedia Company Profile

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.

Institutional Ownership by Quarter for Expedia (NASDAQ:EXPE)

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