Persistent Asset Partners Ltd Invests $2.17 Million in TripAdvisor, Inc. $TRIP

Key Points

• Persistent Asset Partners Ltd. acquired 158,456 TripAdvisor shares worth approximately $2.17 million, representing 0.14% of the company and 0.6% of the fund’s holdings. Institutional investors and hedge funds collectively own 98.99% of TripAdvisor.
• Wall Street sentiment remains cautious: analysts’ average rating is “Reduce,” with a consensus price target of $14.46; ratings include four Buys, seven Holds, and five Sells.
• TripAdvisor reported quarterly revenue of $385.3 million and earnings of $0.35 per share, missing estimates of $506.27 million and $0.38, respectively. Revenue fell 7.2% year over year, while CEO Almir Ambeskovic sold 8,000 shares under a pre-arranged trading plan.

Persistent Asset Partners Ltd acquired a new position in shares of TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 158,456 shares of the travel company's stock, valued at approximately $2,172,000. TripAdvisor comprises approximately 0.6% of Persistent Asset Partners Ltd's holdings, making the stock its 28th biggest position. Persistent Asset Partners Ltd owned 0.14% of TripAdvisor at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TRIP. UMB Bank n.a. raised its stake in TripAdvisor by 295.2% during the fourth 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 shares of TripAdvisor in the 4th quarter valued at approximately $33,000. Rockefeller Capital Management L.P. boosted 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of TripAdvisor by 308.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,077 shares of the travel company's stock valued at $53,000 after purchasing an additional 3,078 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of TripAdvisor during the 3rd quarter valued at approximately $58,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TRIP shares. B. Riley Financial dropped their price objective on shares of TripAdvisor from $13.00 to $12.50 and set a "neutral" rating for the company in a research note on Monday, August 10th. 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. Weiss Ratings reiterated a "sell (d)" rating on shares of TripAdvisor in a report on Wednesday. DA Davidson increased their price target on TripAdvisor from $10.50 to $15.50 and gave the company a "neutral" rating in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. dropped their price target on TripAdvisor from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $14.46.

Insider Buying and Selling at TripAdvisor

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

TripAdvisor Price Performance

NASDAQ:TRIP opened at $10.74 on Monday. The firm's 50 day simple moving average is $13.16 and its 200 day simple moving average is $11.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.56 and a quick ratio of 1.56. TripAdvisor, Inc. has a one year low of $9.01 and a one year high of $20.16. The company has a market cap of $1.26 billion, a PE ratio of 1,075.08, a P/E/G ratio of 2.11 and a beta of 0.86.

TripAdvisor (NASDAQ:TRIP - Get Free Report) last posted its earnings results on Thursday, August 6th. The travel company reported $0.35 earnings per share 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 business had revenue of $385.30 million for the quarter, compared to the consensus estimate of $506.27 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company's revenue was down 7.2% compared to the same quarter last year. On average, research analysts anticipate that TripAdvisor, Inc. will post 0.69 earnings per share for the current year.

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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