TripAdvisor, Inc. (NASDAQ:TRIP – Get Free Report) shares rose 6.3% during mid-day trading on Friday . The stock traded as high as $14.24 and last traded at $14.1650. 1,359,249 shares changed hands during trading, a decline of 63% from the average daily volume of 3,694,123 shares. The stock had previously closed at $13.33.
Wall Street Analysts Forecast Growth
TRIP has been the subject of a number of research reports. Bank of America raised shares of TripAdvisor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $15.00 in a research note on Friday, March 27th. DA Davidson raised 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. BTIG Research reiterated a “buy” rating on shares of TripAdvisor in a report on Monday, June 15th. JPMorgan Chase & Co. cut their price objective on TripAdvisor from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of TripAdvisor in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.19.
Check Out Our Latest Report on TripAdvisor
TripAdvisor Stock Up 4.7%
TripAdvisor (NASDAQ:TRIP – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The travel company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). TripAdvisor had a net margin of 0.99% and a return on equity of 5.73%. The business had revenue of $382.40 million during the quarter, compared to analyst estimates of $384.69 million. During the same quarter in the previous year, the company posted $0.14 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. Equities analysts anticipate that TripAdvisor, Inc. will post 0.69 EPS for the current year.
Insider Activity at TripAdvisor
In related news, CEO Almir Ambeskovic sold 8,000 shares of TripAdvisor stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.30, for a total transaction of $98,400.00. Following the transaction, the chief executive officer owned 34,396 shares in the company, valued at approximately $423,070.80. This trade represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.00% of the company’s stock.
Institutional Trading of TripAdvisor
Several large investors have recently added to or reduced their stakes in TRIP. Pacer Advisors Inc. raised its holdings in shares of TripAdvisor by 2.1% during the 1st quarter. Pacer Advisors Inc. now owns 692,187 shares of the travel company’s stock worth $7,379,000 after acquiring an additional 14,351 shares during the period. Converium Capital Inc. purchased a new stake in shares of TripAdvisor in the first quarter valued at about $11,460,000. Bank of America Corp DE grew its holdings in shares of TripAdvisor by 15.6% in the first quarter. Bank of America Corp DE now owns 842,334 shares of the travel company’s stock valued at $8,979,000 after purchasing an additional 113,843 shares during the period. Kentucky Retirement Systems acquired a new stake in TripAdvisor during the first quarter worth about $98,000. Finally, Amundi increased its position in TripAdvisor by 99.3% during the first quarter. Amundi now owns 41,082 shares of the travel company’s stock worth $438,000 after purchasing an additional 20,468 shares during the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
About TripAdvisor
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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