SummitTX Capital L.P. Raises Holdings in TripAdvisor, Inc. $TRIP

Key Points

• SummitTX Capital increased its TripAdvisor stake by 619.9% in the first quarter, acquiring 120,303 additional shares and ending with 139,710 shares worth approximately $1.49 million. Institutional investors collectively own 98.99% of TRIP.
• TripAdvisor’s CEO sold 8,000 shares for about $98,400 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 18.87%.
• The company’s latest quarterly results missed expectations, with an adjusted loss of $0.11 per share and revenue down 4% year over year. Analysts hold a consensus “Reduce” rating with a $14.76 price target, compared with the stock’s reported opening price of $14.58.

SummitTX Capital L.P. boosted its holdings in shares of TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) by 619.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,710 shares of the travel company's stock after acquiring an additional 120,303 shares during the quarter. SummitTX Capital L.P. owned about 0.12% of TripAdvisor worth $1,489,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TRIP. Essex Financial Services Inc. increased its position in shares of TripAdvisor by 4.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,864 shares of the travel company's stock worth $260,000 after purchasing an additional 776 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV lifted its position in TripAdvisor by 1.3% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 64,053 shares of the travel company's stock valued at $933,000 after buying an additional 847 shares during the last quarter. State of Alaska Department of Revenue lifted its position in TripAdvisor by 1.8% in the fourth quarter. State of Alaska Department of Revenue now owns 62,887 shares of the travel company's stock valued at $914,000 after buying an additional 1,091 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in TripAdvisor by 13.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,812 shares of the travel company's stock worth $143,000 after buying an additional 1,126 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in TripAdvisor by 2.0% during the first quarter. Illinois Municipal Retirement Fund now owns 61,011 shares of the travel company's stock worth $650,000 after buying an additional 1,216 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Insider Buying and Selling at TripAdvisor

In related news, CEO Almir Ambeskovic sold 8,000 shares of the firm's stock in a transaction that occurred 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. This trade represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

TripAdvisor Trading Down 2.3%

TRIP opened at $14.58 on Thursday. TripAdvisor, Inc. has a 12 month low of $9.01 and a 12 month high of $20.16. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 145.81, a PEG ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average price of $12.87 and a 200 day moving average price of $11.75.

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

Wall Street Analyst Weigh In

TRIP has been the topic of a number of research analyst reports. BTIG Research downgraded shares of TripAdvisor from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 21st. UBS Group lowered their price objective on shares of TripAdvisor from $16.00 to $13.70 and set a "neutral" rating for the company in a research report on Monday, April 27th. Barclays lowered 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. Wedbush boosted their target price on TripAdvisor from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, June 16th. Finally, DA Davidson boosted their target price on TripAdvisor from $10.50 to $15.50 and gave the company a "neutral" rating in a research report on Monday, June 15th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $14.76.

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.

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.