Mackay Shields LLC Cuts Stake in Tripadvisor Inc (NASDAQ:TRIP)

Mackay Shields LLC lowered its holdings in shares of Tripadvisor Inc (NASDAQ:TRIP) by 36.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 116,347 shares of the travel company’s stock after selling 68,128 shares during the period. Mackay Shields LLC’s holdings in Tripadvisor were worth $4,500,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its holdings in Tripadvisor by 46.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 9,143 shares of the travel company’s stock valued at $354,000 after buying an additional 2,908 shares in the last quarter. LS Investment Advisors LLC increased its stake in Tripadvisor by 17.3% in the 3rd quarter. LS Investment Advisors LLC now owns 6,272 shares of the travel company’s stock worth $243,000 after acquiring an additional 923 shares during the last quarter. California Public Employees Retirement System increased its stake in Tripadvisor by 41.4% in the 3rd quarter. California Public Employees Retirement System now owns 225,078 shares of the travel company’s stock worth $8,706,000 after acquiring an additional 65,921 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Tripadvisor by 11.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,231 shares of the travel company’s stock worth $1,866,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Tripadvisor by 15.9% in the 3rd quarter. Retirement Systems of Alabama now owns 199,085 shares of the travel company’s stock worth $7,701,000 after acquiring an additional 27,290 shares during the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.

Shares of NASDAQ TRIP traded up $0.31 during trading hours on Friday, hitting $31.96. 6,135,600 shares of the company traded hands, compared to its average volume of 1,867,056. Tripadvisor Inc has a 12 month low of $29.27 and a 12 month high of $65.54. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The company’s 50 day moving average price is $38.72 and its 200 day moving average price is $43.12.

Tripadvisor (NASDAQ:TRIP) last issued its earnings results on Wednesday, November 6th. The travel company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Tripadvisor had a return on equity of 10.63% and a net margin of 8.49%. The business had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $459.39 million. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts forecast that Tripadvisor Inc will post 1.27 EPS for the current fiscal year.

A number of analysts have issued reports on the company. ValuEngine raised Tripadvisor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cowen set a $39.00 price objective on Tripadvisor and gave the stock a “sell” rating in a research note on Friday, August 9th. Standpoint Research assumed coverage on Tripadvisor in a research note on Tuesday, July 16th. They issued a “buy” rating and a $60.00 price objective on the stock. SunTrust Banks reaffirmed a “buy” rating on shares of Tripadvisor in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. downgraded Tripadvisor from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $48.00 to $28.00 in a research note on Friday. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Tripadvisor has an average rating of “Hold” and an average target price of $47.87.

In other Tripadvisor news, insider Dermot Halpin sold 3,409 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $40.23, for a total value of $137,144.07. Following the completion of the sale, the insider now directly owns 752 shares in the company, valued at approximately $30,252.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is currently owned by corporate insiders.

Tripadvisor Company Profile

TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotel and Non-Hotel. The company operates TripAdvisor-branded Websites, including tripadvisor.com in the United States; and localized versions of the Website in 48 markets and 28 languages. It also manages and operates other travel media brands that provide users the comprehensive travel-planning and trip-taking resources in the travel industry, such as airfarewatchdog.com, bookingbuddy.com, cruisecritic.com, familyvacationcritic.com, flipkey.com, thefork.com, holidaywatchdog.com, housetrip.com, jetsetter.com, niumba.com, onetime.com, oyster.com, seatguru.com, smartertravel.com, tingo.com, vacationhomerentals.com, and viator.com, as well as www.bokun.io and holidaylettings.co.uk.

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Institutional Ownership by Quarter for Tripadvisor (NASDAQ:TRIP)

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