2. Expedia Group, Inc. (NASDAQ:EXPE)
Number of Hedge Fund Holders: 88
Expedia Group, Inc. (NASDAQ:EXPE) operates as an online travel firm. The former hedge manager has urged his viewers to buy up shares in companies that benefit from falling commodity prices. He has identified Expedia, a travel play, as one of these firms, which can benefit from falling oil prices and rising travel demand. Cramer has noted that firms like Expedia have recently reported great quarters. However, Cramer has also urged investors to be disciplined in their buying.
On August 6, Mizuho analyst James Lee maintained a Neutral rating on Expedia Group, Inc. (NASDAQ: EXPE) stock and lowered the price target to $132 from $172, noting that the earnings beat of the firm proved the operating leverage of the online travel agency model.
At the end of the first quarter of 2022, 88 hedge funds in the database of Insider Monkey held stakes worth $6.3 billion in Expedia Group, Inc. (NASDAQ:EXPE), up from 82 in the previous quarter worth $7.4 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.”
