Bank of America Corp DE Raises Stake in TripAdvisor, Inc. $TRIP

Key Points

• Bank of America increased its TripAdvisor stake by 15.6% in the first quarter, holding 842,334 shares worth approximately $8.98 million. Other institutional investors also raised their positions, and institutions now own 98.99% of the company.
• TripAdvisor reported quarterly revenue of $385.3 million and EPS of $0.35, missing analyst expectations of $506.27 million and $0.38, respectively. Revenue declined 7.2% year over year.
• Analyst sentiment remains cautious: TripAdvisor has a consensus rating of “Reduce” and an average price target of $14.12, while the stock recently traded at $10.19.

Bank of America Corp DE increased its holdings in TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) by 15.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 842,334 shares of the travel company's stock after purchasing an additional 113,843 shares during the period. Bank of America Corp DE owned approximately 0.72% of TripAdvisor worth $8,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRIP. U S Global Investors Inc. increased its position in shares of TripAdvisor by 32.3% during the first quarter. U S Global Investors Inc. now owns 1,372,941 shares of the travel company's stock valued at $14,636,000 after buying an additional 335,087 shares during the period. K.J. Harrison & Partners Inc lifted its holdings in TripAdvisor by 316.7% in the first quarter. K.J. Harrison & Partners Inc now owns 125,000 shares of the travel company's stock worth $1,332,000 after buying an additional 95,000 shares during the period. Leonteq Securities AG lifted its holdings in TripAdvisor by 153.9% in the first quarter. Leonteq Securities AG now owns 242,483 shares of the travel company's stock worth $2,585,000 after buying an additional 146,977 shares during the period. Blue Grotto Capital LLC lifted its holdings in TripAdvisor by 24.2% in the fourth quarter. Blue Grotto Capital LLC now owns 1,615,000 shares of the travel company's stock worth $23,514,000 after buying an additional 315,000 shares during the period. Finally, Persistent Asset Partners Ltd bought a new stake in TripAdvisor during the 4th quarter valued at approximately $1,456,000. Institutional investors own 98.99% of the company's stock.

TripAdvisor Stock Up 1.9%

TRIP stock opened at $10.19 on Tuesday. TripAdvisor, Inc. has a twelve month low of $9.01 and a twelve month high of $20.16. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.28. The firm has a market cap of $1.19 billion, a PE ratio of 1,020.02, a price-to-earnings-growth ratio of 3.72 and a beta of 0.86. The business has a 50 day moving average of $12.94 and a 200 day moving average of $11.49.

TripAdvisor (NASDAQ:TRIP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The travel company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). TripAdvisor had a return on equity of 4.23% and a net margin of 0.28%.The firm had revenue of $385.30 million during the quarter, compared to the consensus estimate of $506.27 million. During the same quarter in the previous year, the firm earned $0.46 EPS. The business's revenue for the quarter was down 7.2% on a year-over-year basis. On average, research analysts forecast that TripAdvisor, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other TripAdvisor news, CEO Almir Ambeskovic sold 8,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.30, for a total value of $98,400.00. Following the completion of the transaction, the chief executive officer owned 34,396 shares of the company's stock, valued at approximately $423,070.80. The trade was a 18.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. B. Riley Financial decreased their target price on TripAdvisor from $13.00 to $12.50 and set a "neutral" rating for the company in a research report on Monday, August 10th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $16.00 price target on shares of TripAdvisor in a research note on Monday, July 20th. Wedbush increased their price objective on TripAdvisor from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, June 16th. Weiss Ratings reissued a "sell (d)" rating on shares of TripAdvisor in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of TripAdvisor from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $14.12.

About TripAdvisor

TripAdvisor NASDAQ: TRIP is a leading online travel company that operates a digital platform for travel information, reviews and booking services. The company's flagship website and mobile apps allow users to access and contribute travel-related content—ranging from hotel and restaurant reviews to ratings for tours, attractions and vacation rentals—helping consumers plan and book trips around the world.

The core of TripAdvisor's offering is its community-driven review system, which aggregates user-generated feedback alongside editorial content and professional photography.

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