5 Large-Cap Stocks Hedge Funds Are Talking About

2. Expedia Group, Inc. (NASDAQ:EXPE)

Market Capitalization Since Feb. 25, 2022: $31.1 B

Number of Hedge Fund Holders: 82

Heartland Advisors, an investment management firm, published its “Heartland Mid Cap Value Fund” fourth-quarter 2021 investor letter – a copy of which can be seen here. Security selection was mixed, with holdings in Materials and Consumer Discretionary bolstering returns; however, the portfolio couldn’t overcome weakness in Financials and Information Technology, and the Strategy lagged the Russell Mid Cap® Value Index for the quarter.  The portfolio finished the year up more than 20% and kept pace with its benchmark.

In its Q4 2021 investor letter, Heartland Mid Cap Value Fund mentioned Expedia Group, Inc. (NASDAQ: EXPE) and discussed its stance on the firm. Expedia Group, Inc. is a Seattle, Washington-based online travel shopping company with a $31.1 billion market capitalization. EXPE shares are off by 4.73% return since the beginning of the year, but remain up by 6.31% over the past 12 months.

Here is what Heartland Mid Cap Value Fund had to say about Expedia Group, Inc. (NASDAQ: EXPE) in its Q4 2021 investor letter:

“The run-up in equity prices over the past year and a half has narrowed the pool of attractively valued businesses. Economically sensitive areas of the market, in particular, have seen valuations stretched—but the impact of investor exuberance is evident in share prices of companies throughout the broader market. In our view, the elevated valuations commanded by many stocks have heightened risks and dampened upside potential.

In response to this backdrop, we continue to focus on finding and owning companies that are poised to succeed against a variety of backdrops or those that are priced at significant discounts to peers regardless of the sector or industry. Recent addition Expedia Group, Inc. (EXPE) is an example of the type of business we’ve found attractive.”