Pitcairn Co. Reduces Stake in TripAdvisor, Inc. (TRIP)
Pitcairn Co. decreased its position in TripAdvisor, Inc. (NASDAQ:TRIP) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,764 shares of the travel company’s stock after selling 5,688 shares during the period. Pitcairn Co.’s holdings in TripAdvisor were worth $1,480,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in TripAdvisor during the first quarter worth $113,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of TripAdvisor by 6.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,213 shares of the travel company’s stock valued at $130,000 after buying an additional 201 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of TripAdvisor by 4.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,967 shares of the travel company’s stock valued at $171,000 after buying an additional 160 shares during the period. Sphera Funds Management LTD. bought a new stake in shares of TripAdvisor during the first quarter valued at approximately $173,000. Finally, Nordea Investment Management AB increased its stake in shares of TripAdvisor by 3.5% in the first quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock valued at $198,000 after buying an additional 157 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.
TripAdvisor, Inc. (NASDAQ:TRIP) opened at 42.18 on Friday. The firm’s 50-day moving average price is $38.21 and its 200 day moving average price is $42.44. TripAdvisor, Inc. has a one year low of $35.34 and a one year high of $66.13. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 63.81 and a beta of 2.36.
TripAdvisor (NASDAQ:TRIP) last announced its earnings results on Tuesday, August 8th. The travel company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $424 million for the quarter, compared to analysts’ expectations of $421.66 million. TripAdvisor had a net margin of 6.26% and a return on equity of 8.62%. TripAdvisor’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts expect that TripAdvisor, Inc. will post $1.15 earnings per share for the current fiscal year.
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TRIP has been the subject of several analyst reports. Zacks Investment Research downgraded TripAdvisor from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. ValuEngine downgraded TripAdvisor from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Cowen and Company raised TripAdvisor from an “underperform” rating to a “market perform” rating and set a $35.00 price objective for the company in a research note on Wednesday, July 19th. BidaskClub downgraded TripAdvisor from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Vetr downgraded TripAdvisor from a “buy” rating to a “hold” rating and set a $42.29 price objective for the company. in a research note on Monday, April 17th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. TripAdvisor has an average rating of “Hold” and a consensus target price of $44.82.
TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.
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