BlackRock Inc. purchased a new position in shares of TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,437,272 shares of the travel company's stock, valued at approximately $239,065,000. BlackRock Inc. owned about 14.99% of TripAdvisor at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in TripAdvisor in the third quarter valued at $26,848,000. Ameriprise Financial Inc. lifted its holdings in TripAdvisor by 24.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,416,019 shares of the travel company's stock worth $120,585,000 after buying an additional 1,445,607 shares during the period. Converium Capital Inc. acquired a new position in TripAdvisor during the 1st quarter worth about $11,460,000. Nuveen LLC lifted its holdings in TripAdvisor by 40.1% during the 4th quarter. Nuveen LLC now owns 3,355,310 shares of the travel company's stock worth $48,853,000 after buying an additional 961,121 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of TripAdvisor in the 2nd quarter valued at about $9,963,000. Institutional investors and hedge funds own 98.99% of the company's stock.
Insider Buying and Selling
In other news, CEO Almir Ambeskovic sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.30, for a total value of $98,400.00. Following the transaction, the chief executive officer owned 34,396 shares in the company, valued at $423,070.80. This trade represents a 18.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
TRIP has been the topic of several analyst reports. Cantor Fitzgerald reduced their target price on TripAdvisor from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group restated a "buy" rating and issued a $16.00 price target on shares of TripAdvisor in a research report on Monday, July 20th. Barclays decreased their price objective on shares of TripAdvisor from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on shares of TripAdvisor from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, August 7th. Finally, UBS Group dropped their target price 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. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $14.12.
Check Out Our Latest Stock Report on TRIP
TripAdvisor Price Performance
Shares of NASDAQ TRIP opened at $9.79 on Friday. The firm's 50-day moving average price is $12.76 and its 200-day moving average price is $11.43. TripAdvisor, Inc. has a 1-year low of $9.01 and a 1-year high of $20.16. The firm has a market capitalization of $1.15 billion, a P/E ratio of 979.98, a P/E/G ratio of 3.67 and a beta of 0.86. 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 (NASDAQ:TRIP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $385.30 million during the quarter, compared to analyst estimates of $506.27 million. During the same period last year, the business posted $0.46 EPS. The company's revenue was down 7.2% on a year-over-year basis. Equities research analysts anticipate that TripAdvisor, Inc. will post 0.36 earnings per share for the current fiscal year.
TripAdvisor Company Profile
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Free Report)
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.
See Also
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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