Expedia Inc. (EXPE): PAR Capital Management Raises Stake to 5.2%

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Paul Reeder and Edward Shapiro’s PAR Capital Management reported holding 7.10 million shares of Expedia Inc. (NASDAQ:EXPE) via a 13G filing with the SEC, which amass 5.2% of the stock’s float. This indicates an increase in the fund’s stake, as it previously held 6.55 million shares, according to its 13F filing for the end-of-June reporting period.

Expedia is an online travel company whose stock is down by 10.9% year-to-date. For the second quarter of 2016, Expedia reported earnings per share of $0.83 and revenue of $2.2 billion, compared to EPS of $0.89 and revenue of $1.66 billion for the same period of the prior year. Earlier this month, Cantor Fitzgerald reiterated its ‘Buy’ rating on Expedia’s stock.

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The number of hedge funds with long positions in Expedia (NASDAQ:EXPE) increased by two in the second quarter, as at the end of the June quarter, there were 67 investors in our system bullish on the stock. Among them were Brad Gerstner’s Altimeter Capital Management, which held a position valued at $478.15 million, Jason Karp’s Tourbillon Capital Partners, with a position worth around $333.38 million, Philippe Laffont’s Coatue Management, Curtis Macnguyen’s Ivory Capital (Investment Mgmt), Eric Bannasch’s Cadian Capital, and Guru Ramakrishnan’s Meru Capital.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
PAR Investment Partners 7,100,027 7,100,027 7,100,027 5.2%
PAR Group 7,100,027 7,100,027 7,100,027 5.2%
PAR Capital Management, Inc 7,100,027 7,100,027 7,100,027 5.2%

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Page 1 of 7 – SEC Filing



Washington, D.C. 20549




Under the Securities Exchange Act of 1934

(Amendment No.     )*



Expedia, Inc.

(Name of Issuer)

Common stock

(Title of
Class of Securities)


(CUSIP Number)

Sept 16,

(Date of Event Which Requires Filing of this Statement)




Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

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