Do You Think Inflationary Pressures Affect Expedia Group (EXPE)?

Artisan Partners, an investment management company, released its “Artisan Global Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTGX returned -10.16%, Advisor Class fund APDGX posted a return of -10.17%, and Institutional Class fund APHGX returned -10.14%, compared to a return of -6.82% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners discussed stocks like Expedia Group, Inc. (NASDAQ:EXPE) in its Q3 2022 investor letter. Headquartered in Seattle, Washington, Expedia Group, Inc. (NASDAQ:EXPE) is an online travel company. On October 14, 2022, Expedia Group, Inc. (NASDAQ:EXPE) stock closed at $90.27 per share. One-month return of Expedia Group, Inc. (NASDAQ:EXPE) was -11.92% and its shares lost 46.88% of their value over the last 52 weeks. Expedia Group, Inc. (NASDAQ:EXPE) has a market capitalization of $14.223 billion.

Here is what Artisan Partners specifically said about Expedia Group, Inc. (NASDAQ:EXPE) in its Q3 2022 investor letter:

“Expedia Group, Inc. (NASDAQ:EXPE) shares declined 1% during the quarter. Part of this was just the shares finding a bottom after a significant decline in the prior quarter. The business continues to perform well. The core business has largely recovered from the pandemic, with lodging revenues now 9% higher than 2019 levels. The overall travel environment has remained strong, but the big question is whether inflationary pressure on consumer discretionary spending will render the recovery short lived. Time will tell. In the meantime, the business is performing well, and the structural improvements in Expedia’s cost structure made during the pandemic are becoming visible. We estimate the shares are trading at ~10X normalized earnings, which remains attractive.”

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Expedia Group, Inc. (NASDAQ:EXPE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 80 hedge fund portfolios held Expedia Group, Inc. (NASDAQ:EXPE) at the end of the second quarter which was 88 in the previous quarter.

We discussed Expedia Group, Inc. (NASDAQ:EXPE) in another article and shared the best consumer discretionary stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.