Bank of America Corp DE Makes New $5.97 Million Investment in TripAdvisor, Inc. $TRIP

Key Points

• Bank of America acquired 435,744 TripAdvisor shares worth approximately $5.97 million during the second quarter, giving it a 0.37% stake. Institutional investors and hedge funds collectively own 98.99% of the company.
• Analyst sentiment remains mixed, with a consensus “Reduce” rating and an average price target of $14.12; targets range from $9 to $20.
• TripAdvisor’s latest quarter fell short of expectations: adjusted earnings were $0.35 per share versus $0.38 expected, while revenue declined 7.2% year over year to $385.3 million, below the $506.27 million consensus.

Bank of America Corp DE bought a new position in shares of TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 435,744 shares of the travel company's stock, valued at approximately $5,974,000. Bank of America Corp DE owned about 0.37% of TripAdvisor as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its stake in shares of TripAdvisor by 192.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,767 shares of the travel company's stock worth $40,000 after acquiring an additional 1,821 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TripAdvisor in the second quarter valued at approximately $92,000. Vestcor Inc bought a new position in TripAdvisor in the 4th quarter worth approximately $95,000. Kentucky Retirement Systems bought a new position in TripAdvisor in the 1st quarter worth approximately $98,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in TripAdvisor during the 1st quarter worth $116,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on TRIP shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $16.00 price objective on shares of TripAdvisor in a research report on Monday, July 20th. Wedbush upped their price target on TripAdvisor from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, June 16th. UBS Group decreased their price target on TripAdvisor from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Cantor Fitzgerald lowered their price objective on TripAdvisor from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of TripAdvisor in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $14.12.

Insiders Place Their Bets

In other TripAdvisor news, CEO Almir Ambeskovic sold 8,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $9.45, for a total value of $75,600.00. Following the sale, the chief executive officer directly owned 30,456 shares in the company, valued at approximately $287,809.20. This trade represents a 20.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company's stock.

TripAdvisor Stock Performance

NASDAQ TRIP opened at $8.41 on Monday. TripAdvisor, Inc. has a 12 month low of $8.02 and a 12 month high of $17.82. The stock has a 50-day simple moving average of $10.79 and a 200 day simple moving average of $11.20. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $985.65 million, a PE ratio of 841.84, a P/E/G ratio of 3.39 and a beta of 0.83.

TripAdvisor (NASDAQ:TRIP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The travel company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The company had revenue of $385.30 million during the quarter, compared to the consensus estimate of $506.27 million. During the same period last year, the company earned $0.46 earnings per share. The business's revenue was down 7.2% compared to the same quarter last year. Research analysts forecast that TripAdvisor, Inc. will post 0.34 EPS for the current year.

TripAdvisor Profile

Tripadvisor, Inc NASDAQ: TRIP operates a global travel guidance platform that helps consumers research, plan and book trips. Its flagship Tripadvisor website and mobile applications feature traveler reviews, ratings, photos and other user-generated content covering hotels, restaurants, attractions and destinations. The platform also provides travel-planning tools, advertising solutions and links to booking partners.

The company's portfolio includes Viator, an online marketplace for tours, activities and experiences, and TheFork, a restaurant-discovery and reservation platform.

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