Will Expedia (EXPE) be Able to Create Long-Term Shareholder Value?

Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy had a strong performance in the second quarter, returning 13.31% net of fees compared to the S&P 500’s 8.74% gain. The strategy grew 20.91% over the last year, compared to a 19.59% increase for the market. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Patient Capital Opportunity Equity Strategy highlighted stocks like Expedia Group, Inc. (NASDAQ:EXPE) in the second quarter 2023 investor letter. Headquartered in Seattle, Washington, Expedia Group, Inc. (NASDAQ:EXPE) an online travel company. On October 4, 2023, Expedia Group, Inc. (NASDAQ:EXPE) stock closed at $100.18 per share. One-month return of Expedia Group, Inc. (NASDAQ:EXPE) was -5.28%, and its shares gained 4.78% of their value over the last 52 weeks. Expedia Group, Inc. (NASDAQ:EXPE) has a market capitalization of $14.362 billion.

Patient Capital Opportunity Equity Strategy made the following comment about Expedia Group, Inc. (NASDAQ:EXPE) in its Q2 2023 investor letter:

“We like other names mostly ignored by the market for similar reasons. Names like Expedia Group, Inc. (NASDAQ:EXPE), General Motors (GM) and Delta Air Lines. These companies have strong returns on capital (14%+), good competitive positions, cheap valuations (all double-digit free cash flow yields), and are returning capital to shareholders. We trust the managements to take advantage of their depressed stock prices and create long-term shareholder value.”

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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, 57 hedge fund portfolios held Expedia Group, Inc. (NASDAQ:EXPE) at the end of second quarter which was 62 in the previous quarter.

We discussed Expedia Group, Inc. (NASDAQ:EXPE) in another article and shared the list of stocks with AI catalysts in 2023. In addition, please check out our hedge fund investor letters Q2 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.