Lance Soliday, the Senior Vice President and Chief Accounting Officer at Expedia (NASDAQ:EXPE) Group, Inc. (NASDAQ:EXPE), recently executed a significant stock transaction. On November 14, Soliday sold 7,000 shares of Expedia common stock, amounting to approximately $1.27 million, with the shares priced at an average of $181.99 each.
This sale was part of a series of transactions reported in a Form 4 filing with the SEC. Additionally, Soliday acquired 7,963 shares through multiple transactions, including the exercise of options and restricted stock units, at prices ranging from $0 to $104.50. Following these transactions, Soliday's direct ownership stands at 11,914 shares.
The transactions highlight Soliday's continued activity in managing his holdings in Expedia Group, a leading online travel company based in Seattle, Washington.
In other recent news, Expedia Group Inc. reported a 3% increase in revenue to $4.1 billion and a 7% increase in gross bookings to $27.5 billion in its Q3 2024 financial results. The company's disciplined cost management resulted in a decrease in overhead expenses by 3% and a 6% reduction in cost of sales. The firm's EBITDA rose to $1.25 billion, a 3% increase from the previous year, with a margin of 30.8%.
Expedia Group has provided an optimistic fourth-quarter outlook, expecting GB growth of 6-8% year-over-year. The company anticipates revenue growth to be approximately one percentage point lower than GB growth due to a more favorable outlook for the air business, which has a lower revenue margin compared to lodging. EBITDA and EBIT margins are projected to align closely with the previous year's figures, as Expedia plans to increase marketing investments in Vrbo and international markets.
On Monday, DA Davidson and Mizuho (NYSE:MFG) Securities adjusted their outlook on Expedia Group Inc., raising the price targets while maintaining a Neutral rating on the stock. The new targets reflect positive expectations based on the firm's projected future performance. These are recent developments that show Expedia Group's resilience amid macroeconomic turbulence. The firm is focusing on operational efficiencies and is optimistic about long-term growth opportunities.
InvestingPro Insights
The recent stock transactions by Lance Soliday, Expedia Group's Senior Vice President and Chief Accounting Officer, come at a time when the company's stock has shown strong performance. According to InvestingPro data, Expedia has seen impressive returns, with a 37.67% price increase over the last three months and a substantial 58.23% gain over the past six months.
These robust returns align with an InvestingPro Tip indicating that Expedia has demonstrated "Strong return over the last three months." This positive momentum may have influenced Soliday's decision to sell a portion of his holdings while also acquiring additional shares through various means.
Another relevant InvestingPro Tip suggests that Expedia "Operates with a moderate level of debt." This balanced approach to financial leverage could be seen as a positive factor for investors considering the company's long-term stability.
It's worth noting that Expedia's market capitalization stands at $23.17 billion, reflecting its significant position in the online travel industry. The company's P/E ratio of 22.67 and its impressive gross profit margin of 89.19% for the last twelve months as of Q3 2024 further underscore its financial health and operational efficiency.
Investors interested in a deeper analysis of Expedia's financial metrics and performance indicators can find 14 additional InvestingPro Tips, offering a comprehensive view of the company's market position and potential.
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