Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The market continued its rally in the first quarter and the S&P 500 Index rose 10.56% during the period. Aristotle Atlantic’s Focus Growth strategy returned 10.42% gross of fees (10.40% net of fees), in the first quarter underperforming the Russell 1000 Growth Index’s 11.41% total return. The relative underperformance was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Aristotle Atlantic Focus Growth Strategy highlighted stocks like Expedia Group, Inc. (NASDAQ:EXPE), in the first quarter 2024 investor letter. Expedia Group, Inc. (NASDAQ:EXPE) is an online travel company with a market capitalization of $14.675 billion. The one-month return of Expedia Group, Inc. (NASDAQ:EXPE) was -18.47%, and its shares gained 14.82% of their value over the last 52 weeks. On May 23, 2024, Expedia Group, Inc. (NASDAQ:EXPE) stock closed at $110.49 per share.
Aristotle Atlantic Focus Growth Strategy stated the following regarding Expedia Group, Inc. (NASDAQ:EXPE) in its first quarter 2024 investor letter:
“Expedia Group, Inc. (NASDAQ:EXPE) provides online travel services for leisure and small business travelers. The company offers a wide range of travel, shopping and reservation services and also provides real-time access to schedule, pricing and availability information for airlines, hotels and car rental companies. Expedia serves customers worldwide.
We see Expedia benefiting from the growth in booking travel online, both for leisure and corporate travel. The company also benefits from rapid growth in alternative accommodations and vacation home rentals through VRBO. The main sources of revenue and profitability are from hotel and vacation home rentals. Additionally, Expedia has exposure to airline ticket sales and automobile rentals. Following the COVID-19 pandemic, Expedia’s debt has been reduced, technology platforms have been rationalized, share repurchase has resumed and we expect a dividend will eventually be reinstated.”
A bustling airport terminal with travelers heading to their dream destination.
In the first quarter Expedia Group, Inc. (NASDAQ:EXPE) reported $2.9 billion in revenues, up 8% compared to 2023 first quarter and the total gross bookings were up 3% compared to last year. Expedia Group, Inc. (NASDAQ:EXPE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held Expedia Group, Inc. (NASDAQ:EXPE) at the end of the first quarter which was 65 in the previous quarter.
In another article, we discussed Expedia Group, Inc. (NASDAQ:EXPE) and shared the list of leisure and recreation services stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 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.
