17,437,272 Shares in TripAdvisor, Inc. $TRIP Purchased by BlackRock Inc.

BlackRock Inc. acquired a new position in TripAdvisor, Inc. (NASDAQ:TRIPFree Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,437,272 shares of the travel company’s stock, valued at approximately $239,065,000. BlackRock Inc. owned approximately 0.15% of TripAdvisor as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in shares of TripAdvisor during the second quarter worth $2,172,000. U S Global Investors Inc. lifted its holdings in TripAdvisor by 32.3% during the 1st quarter. U S Global Investors Inc. now owns 1,372,941 shares of the travel company’s stock worth $14,636,000 after purchasing an additional 335,087 shares in the last quarter. K.J. Harrison & Partners Inc lifted its holdings in TripAdvisor by 316.7% during the 1st quarter. K.J. Harrison & Partners Inc now owns 125,000 shares of the travel company’s stock worth $1,332,000 after purchasing an additional 95,000 shares in the last quarter. Bank of America Corp DE boosted its stake in TripAdvisor by 15.6% in the 1st quarter. Bank of America Corp DE now owns 842,334 shares of the travel company’s stock worth $8,979,000 after purchasing an additional 113,843 shares during the period. Finally, Leonteq Securities AG boosted its stake in TripAdvisor by 153.9% in the 1st quarter. Leonteq Securities AG now owns 242,483 shares of the travel company’s stock worth $2,585,000 after purchasing an additional 146,977 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

TripAdvisor Price Performance

TRIP stock opened at $9.79 on Friday. TripAdvisor, Inc. has a 1 year low of $9.01 and a 1 year high of $20.16. The company has a market cap of $1.15 billion, a P/E ratio of 979.98, a PEG ratio of 3.67 and a beta of 0.86. The firm has a 50-day moving average of $12.76 and a 200 day moving average of $11.43. 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 (NASDAQ:TRIPGet Free Report) last released its earnings results on Thursday, August 6th. The travel company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The firm had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $506.27 million. During the same quarter in the previous year, the business earned $0.46 EPS. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that TripAdvisor, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRIP. Barclays decreased their target price on shares of TripAdvisor from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Wedbush lifted their price target on TripAdvisor from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. BTIG Research downgraded TripAdvisor from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d)” rating on shares of TripAdvisor in a research note on Wednesday, August 12th. Finally, Cantor Fitzgerald cut their target price on shares of TripAdvisor from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $14.12.

Check Out Our Latest Stock Report on TripAdvisor

Insider Activity at TripAdvisor

In other 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 transaction of $98,400.00. Following the sale, the chief executive officer owned 34,396 shares in the company, valued at approximately $423,070.80. The trade was a 18.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

About TripAdvisor

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TripAdvisor (NASDAQ:TRIP)

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