Converium Capital Inc. Takes Position in TripAdvisor, Inc. $TRIP

Key Points

• Converium Capital acquired 1.075 million TripAdvisor shares worth approximately $11.46 million, making TRIP its sixth-largest holding and representing about 7.5% of its portfolio.
• TripAdvisor’s latest quarter fell short of expectations, with an adjusted loss of $0.11 per share and revenue of $382.4 million, down 4% year over year.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $14.86 price target, while shares recently traded at $14.16.

Converium Capital Inc. acquired a new stake in TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,075,000 shares of the travel company's stock, valued at approximately $11,460,000. TripAdvisor comprises about 7.5% of Converium Capital Inc.'s portfolio, making the stock its 6th largest position. Converium Capital Inc. owned 0.92% of TripAdvisor at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TRIP. Kestra Advisory Services LLC acquired a new stake in TripAdvisor during the fourth quarter worth $33,000. UMB Bank n.a. lifted its stake 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 valued at $33,000 after purchasing an additional 1,718 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of TripAdvisor by 192.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,767 shares of the travel company's stock valued at $40,000 after purchasing an additional 1,821 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of TripAdvisor during the 3rd quarter worth $58,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of TripAdvisor during the 4th quarter worth $58,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

TripAdvisor Trading Down 0.2%

TRIP opened at $14.16 on Friday. TripAdvisor, Inc. has a 52 week low of $9.01 and a 52 week high of $20.16. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $13.04 and a 200-day simple moving average of $11.76. The firm has a market cap of $1.65 billion, a P/E ratio of 141.61, a P/E/G ratio of 2.78 and a beta of 0.86.

TripAdvisor (NASDAQ:TRIP - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The travel company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.08). TripAdvisor had a net margin of 0.99% and a return on equity of 5.73%. The firm had revenue of $382.40 million during the quarter, compared to analysts' expectations of $384.69 million. During the same quarter in the prior year, the firm posted $0.14 EPS. TripAdvisor's quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts expect that TripAdvisor, Inc. will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRIP shares. UBS Group raised their price objective on TripAdvisor from $13.70 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of TripAdvisor from $12.00 to $11.00 and set an "underweight" rating on the stock in a research report on Friday, May 8th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $16.00 target price on shares of TripAdvisor in a research note on Monday, July 20th. BTIG Research cut shares of TripAdvisor from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 21st. Finally, DA Davidson boosted their price target on shares of TripAdvisor from $10.50 to $15.50 and gave the company a "neutral" rating in a research note on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $14.86.

Insider Transactions at TripAdvisor

In other TripAdvisor news, CEO Almir Ambeskovic sold 8,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.30, for a total transaction of $98,400.00. Following the sale, the chief executive officer directly owned 34,396 shares in the company, valued at $423,070.80. This represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by company insiders.

TripAdvisor Company 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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