Billionaire Stanley Druckenmiller is Selling These 5 Stocks

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

Number of Hedge Fund Holders: 80    

Expedia Group, Inc. (NASDAQ:EXPE) operates as an online travel firm. On August 4, the company posted earnings for the second quarter of 2022, reporting earnings per share of $1.96, beating market estimates by $0.40. The revenue over the period was $3.1 billion, up over 50% compared to the revenue over the same period last year and beating analyst expectations by $190 million. The company also revealed that lodging gross bookings were up 8% versus the second quarter 2019. 

On August 19, UBS analyst Lloyd Walmsley maintained a Neutral rating on Expedia Group, Inc. (NASDAQ: EXPE) stock and raised the price target to $112 from $108, citing the marketing pivot of the firm as one of the reasons behind the target raise. 

At the end of the second quarter of 2022, 80 hedge funds in the database of Insider Monkey held stakes worth $3 billion in Expedia Group, Inc. (NASDAQ:EXPE), compared to 88 in the previous quarter worth $6 billion.

In its Q1 2022 investor letter, Aristotle Capital Management, an asset management firm, highlighted a few stocks and Expedia Group, Inc. (NASDAQ:EXPE) was one of them. Here is what the fund said:

“Expedia Group, Inc. (NASDAQ:EXPE) outperformed in the first quarter following a better-than-expected earnings report for the company’s fourth quarter of 2021. During the pandemic, the company reduced expenses which has improved operating leverage as revenue recovers. Expectations for travel in 2022 have improved as COVID cases have declined.”