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Web Travel Group Ltd ASX:WEB

Capital Management Margin Expansion Regulatory Risk

1 opened or increased7 held2 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 15 managers in total.

Position history by manager Showing 3 of 15 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

12 more managers have commented on WEBPro shows the full position history for all 15 managers.

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20252026

17 Mar 2026 to today

Commentary Showing 2 of 30

DateManagerActionSummary

31 Aug 2026Sharpbridge Funds ManagementHeldSharpbridge Funds Management continues to hold Webjet, its only ASX-listed stock since the fund's launch, noting the position has continued to test the manager's mettle. The stock surged as high as 94c last year after a bidding war between private equity firm BGH Capital and travel agency Helloworld Travel, with BGH offering 91c a share in November, before takeover talks ended in February and Webjet's shares tumbled more than 60% to around 40c. The manager notes further disappointment after Helloworld's CEO revealed Webjet ignored a $1 per share offer, along with setbacks from the Iran war reducing travel demand, Virgin cutting commissions to travel agents, and a poor acquisition of travel technology company Locomote. Sharpbridge remains hopeful following the appointment of former Wesfarmers executive Nicole Sheffield as CEO, citing new management making the right moves to turn the business around, plus the ongoing possibility of another takeover bid.

Article, price recorded $3.80

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31 Jul 2026QVG CapitalInitiatedQVG Capital initiated a position in Web Travel Group because, after upweighting the holding following the company's late-July trading update and guidance, the manager believes margins on travel volumes have entered a period of stabilisation after several years of material decline, with additional upside available once Middle East tensions subside and volume growth reaccelerates. QVG notes the opaque B2B nature of the travel distribution industry had compressed the valuation to reflect a continuation of negative trends, and its analysis suggests the stock offers more than 20% potential return even in the absence of positive news flow, which it views as adequate compensation for the risk.

Monthly Report, price recorded $3.42

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28 more comments on WEBPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 15 managers first commented on WEB.

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Articles

About Web Travel Group Ltd

Consumer Discretionary, Hotels, Restaurants and Leisure

Web Travel Group (ASX:WEB), the business-to-business travel platform formerly known as Webjet, has attracted value-oriented fund managers after a sharp de-rating. In July 2026, QVG Capital added Web Travel Group to its portfolio and increased the position after a trading update and guidance, while acknowledging the business has suffered from declining margins on travel volumes. Prime Value Asset Management believes travel disruption from the Iran conflict has a limited impact on short-term profits, while Akambo exited after its take rate failed to improve. Web Travel Group operates in the Consumer Discretionary sector within the Hotels, Restaurants and Leisure industry, and Thesis Tracker has captured 30 comments from 15 fund managers, including QVG Capital, Prime Value, Akambo and Australian Eagle. Web Travel Group operates WebBeds, one of the world's largest business-to-business hotel accommodation marketplaces, connecting hotels with travel agents, tour operators and online travel sellers globally.

Market cap: $1.2b
Price to earnings: 40.8x
Return on equity: 6.1%
Dividend yield: 0.0%
Price to book: 2.46x
Net margin: 9.0%
52-week range: $2.17 to $5.04

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Web Travel Group Ltd (ASX:WEB)?

Fund managers including Endeavor Asset Management, Blackwattle Investment Partners, Ausbil Investment Management, Oracle Advisory Group, Harvest Lane Asset Management, Smallco Investment Manager, Tyndall Asset Management, Wilson Asset Management, Tamim Funds Management, Prime Value Asset Management, Ellerston Capital, Akambo, Australian Eagle Asset Management, QVG Capital and Sharpbridge Funds Management have invested in Web Travel Group Ltd (ASX:WEB).

What opportunities or catalysts do fund managers highlight for Web Travel Group Ltd?

QVG Capital sees value after recent weakness and upweighted following updated guidance, and Australian Eagle notes continued growth in underlying earnings momentum. Prime Value argues geopolitical travel disruption tends to have only a small effect on near-term profits, creating an opportunity after the sector sell-off.

What are the key risks to the Web Travel Group Ltd investment thesis, according to fund managers?

Akambo exited because the hoped-for improvement in take rate did not materialise, and QVG notes margins on travel volumes have declined and growth has slowed. Australian Eagle flagged a Spanish Tax Agency audit of a subsidiary, though management described it as routine.

What does Web Travel Group Ltd (ASX:WEB) do?

WEB Travel Group Ltd. is a Melbourne-based online travel agency founded in 1998 by David Clarke, Allan Nahum, and John Lemish. The company provides a global platform for booking domestic and international travel services. Core offerings include flight deals, hotel accommodations, car hire, and travel insurance. WEB Travel Group facilitates end-to-end travel management for customers through its digital booking infrastructure.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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