In recent transactions disclosed by Expedia (NASDAQ:EXPE) Group, Inc. (NASDAQ:EXPE), Chief Legal Officer Robert J. Dzielak sold a substantial amount of the company's common stock. According to the SEC filing, Dzielak sold a total of 5,536 shares over two days.
On November 21, 2024, Dzielak sold 1,951 shares at a price of $180 per share. The following day, he sold an additional 3,585 shares at $185 per share. These transactions resulted in a total sale value of approximately $1,014,405.
After these transactions, Dzielak holds 81,665 shares of Expedia Group's common stock. These sales come as Expedia continues to navigate the evolving landscape of the travel industry.
In other recent news, Expedia Group Inc. reported a year-over-year increase of 7% in gross bookings to $27.5 billion, with revenues rising by 3% to $4.1 billion in Q3 2024. Despite marginal misses in consolidated revenues due to foreign exchange headwinds, the company's adjusted EBITDA for the quarter was a highlight, coming in at $1.25 billion. DA Davidson and Mizuho (NYSE:MFG) Securities have both revised their outlook on Expedia, adjusting their price targets upwards while maintaining a Neutral rating on the stock. The companies attribute these changes to Expedia's strong execution of strategies and favorable future prospects.
Additionally, Expedia has provided an optimistic Q4 outlook, expecting gross bookings growth of 6-8% year-over-year, and anticipates revenue growth to be approximately one percentage point lower than gross bookings growth. For the full year 2024, Expedia has revised its guidance upwards, now expecting gross bookings to rise by 5% year-over-year, with EBITDA and EBIT margins expected to slightly exceed last year's levels.
Finally, Expedia announced leadership changes with CFO Julie Whalen stepping down and Ramana Thumu stepping in as Chief Technology Officer. These are all recent developments that provide insights into the company's resilience and strategic execution amid macroeconomic challenges.
InvestingPro Insights
The recent stock sales by Expedia Group's Chief Legal Officer Robert J. Dzielak coincide with several noteworthy financial metrics and trends for the company. According to InvestingPro data, Expedia's market capitalization stands at $23.75 billion, reflecting its significant presence in the online travel industry.
One of the key InvestingPro Tips highlights that management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. This share repurchase activity may also help explain why executives like Dzielak might choose to sell some of their holdings, as it could be part of a broader capital management strategy.
Another relevant InvestingPro Tip points out that Expedia is trading near its 52-week high, with the stock price at 97.12% of its peak. This aligns with the strong recent performance of the stock, which has seen a 14.72% return over the past month and an impressive 65% return over the last six months.
Expedia's financial health appears robust, with the company boasting impressive gross profit margins of 89.19% for the last twelve months as of Q3 2023. This strength in profitability is complemented by a revenue of $13.39 billion over the same period, with a growth rate of 6.56%.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 11 more InvestingPro Tips available for Expedia Group, providing a deeper understanding of the company's financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.