Bank of New York Mellon Corp Invests $9.96 Million in TripAdvisor, Inc. $TRIP

Key Points

• Bank of New York Mellon acquired 726,717 TripAdvisor shares worth approximately $9.96 million, representing about 0.62% of the company. Institutional investors collectively own 98.99% of TRIP’s outstanding stock.
• Analyst sentiment remains cautious: TripAdvisor has an average “Reduce” rating and a consensus price target of $14.12, with recent target changes ranging from $9 to $20.
• TripAdvisor reported quarterly revenue of $385.3 million, below the $506.27 million estimate, while earnings per share came in at $0.35 versus expectations of $0.38. Revenue declined 7.2% year over year, and shares recently opened at $9.61.

Bank of New York Mellon Corp acquired a new stake in TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 726,717 shares of the travel company's stock, valued at approximately $9,963,000. Bank of New York Mellon Corp owned approximately 0.62% of TripAdvisor at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of TripAdvisor by 295.2% in the 4th quarter. UMB Bank n.a. now owns 2,300 shares of the travel company's stock worth $33,000 after acquiring an additional 1,718 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in TripAdvisor in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 1,821 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of TripAdvisor by 308.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,077 shares of the travel company's stock worth $53,000 after purchasing an additional 3,078 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of TripAdvisor in the 3rd quarter worth $58,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. DA Davidson boosted their target price on TripAdvisor from $10.50 to $15.50 and gave the stock a "neutral" rating in a research note on Monday, June 15th. UBS Group dropped their price objective on shares of TripAdvisor from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. BTIG Research downgraded TripAdvisor from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 21st. Wedbush boosted 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. Finally, Cantor Fitzgerald dropped their target price on TripAdvisor from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $14.12.

TripAdvisor Stock Performance

Shares of TRIP stock opened at $9.61 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.28. TripAdvisor, Inc. has a 12-month low of $9.01 and a 12-month high of $20.16. The business's 50 day moving average is $12.52 and its two-hundred day moving average is $11.37. The company has a market capitalization of $1.13 billion, a P/E ratio of 961.96, a P/E/G ratio of 3.52 and a beta of 0.83.

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

TripAdvisor Profile

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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