Should You Hold Expedia (EXPE) for the Long Term?

ClearBridge Investments, an investment management firm, released its fourth-quarter 2023 “Mid Cap Strategy” investor letter, which can be downloaded here. As a late-year rally was fueled by confidence about an economic soft landing, a dovish flip by the Fed, and broader market performance, mid-cap stocks saw strong gains. Due to an inconstant industrial and consumer discretionary asset performance, the Strategy underperformed its benchmark; however, the consumer staples stock pick was successful. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Mid Cap Strategy featured stocks like Expedia Group, Inc. (NASDAQ:EXPE) in the fourth quarter 2023 investor letter. Headquartered in Seattle, Washington, Expedia Group, Inc. (NASDAQ:EXPE) is an online travel company. On March 18, 2024, Expedia Group, Inc. (NASDAQ:EXPE) stock closed at $133.21 per share. One-month return of Expedia Group, Inc. (NASDAQ:EXPE) was -2.04%, and its shares gained 37.68% of their value over the last 52 weeks. Expedia Group, Inc. (NASDAQ:EXPE) has a market capitalization of $18.155 billion.

ClearBridge Mid Cap Strategy stated the following regarding Expedia Group, Inc. (NASDAQ:EXPE) in its fourth quarter 2023 investor letter:

“There were some bright spots within the consumer discretionary sector, including our top-performing holding Expedia Group, Inc. (NASDAQ:EXPE). Entering the quarter, negative investor sentiment and fears of a recession cast doubt on consumer travel. However, the prospect of a soft landing, combined with the company’s completion of integrating its multiple brands under the same technology and marketing infrastructure, has helped to bolster the company’s ability to capture additional market share. We believe that further integration of the company’s brands into one stack and management’s focus on internal improvement will continue to drive long-term results.”

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Expedia Group, Inc. (NASDAQ:EXPE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Expedia Group, Inc. (NASDAQ:EXPE) was held by 65 hedge fund portfolios, compared to 52 in the previous quarter, according to our database.

We discussed Expedia Group, Inc. (NASDAQ:EXPE) in another article and shared the list of largest travel companies in the world. In addition, please check out our hedge fund investor letters Q4 2023 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.