Pictet Asset Management Ltd. boosted its position in shares of TripAdvisor, Inc. (NASDAQ:TRIP) by 10.3% during the second quarter, Holdings Channel reports. The firm owned 581,052 shares of the travel company’s stock after buying an additional 54,342 shares during the period. Pictet Asset Management Ltd.’s holdings in TripAdvisor were worth $22,376,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in TripAdvisor during the first quarter worth about $113,000. Mn Services Vermogensbeheer B.V. raised its position in TripAdvisor by 6.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,213 shares of the travel company’s stock worth $130,000 after buying an additional 201 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in 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 worth $171,000 after buying an additional 160 shares during the period. Sphera Funds Management LTD. purchased a new position in TripAdvisor during the first quarter worth about $173,000. Finally, Nordea Investment Management AB raised its position in TripAdvisor by 3.5% in the first quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock worth $198,000 after buying an additional 157 shares during the period. Institutional investors own 89.06% of the company’s stock.
Shares of TripAdvisor, Inc. (TRIP) opened at 39.71 on Friday. The firm has a 50-day moving average of $38.02 and a 200 day moving average of $42.51. TripAdvisor, Inc. has a 12 month low of $35.34 and a 12 month high of $66.13. The firm has a market cap of $5.51 billion, a P/E ratio of 57.38 and a beta of 2.36. TripAdvisor also was the target of some unusual options trading on Tuesday. Investors purchased 12,124 put options on the stock. This represents an increase of 753% compared to the typical volume of 1,421 put options.
TripAdvisor (NASDAQ:TRIP) last announced its quarterly earnings results on Tuesday, August 8th. The travel company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $424 million for the quarter, compared to analyst estimates of $421.66 million. TripAdvisor had a net margin of 6.26% and a return on equity of 8.62%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts anticipate that TripAdvisor, Inc. will post $1.15 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Pictet Asset Management Ltd. Purchases 54,342 Shares of TripAdvisor, Inc. (NASDAQ:TRIP)” was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.com-unik.info/2017/08/11/pictet-asset-management-ltd-purchases-54342-shares-of-tripadvisor-inc-nasdaqtrip.html.
A number of research analysts have issued reports on the stock. UBS AG restated a “neutral” rating and issued a $45.00 target price (down from $48.00) on shares of TripAdvisor in a report on Friday, April 14th. Stifel Nicolaus reiterated a “hold” rating and set a $40.00 price objective (down from $45.00) on shares of TripAdvisor in a report on Thursday. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $32.00 price objective (down from $40.00) on shares of TripAdvisor in a report on Thursday. BidaskClub upgraded shares of TripAdvisor from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Barclays PLC reiterated a “hold” rating and set a $47.00 price objective on shares of TripAdvisor in a report on Wednesday. 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 stock. The stock has an average rating of “Hold” and an average price target of $44.41.
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.
Want to see what other hedge funds are holding TRIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TripAdvisor, Inc. (NASDAQ:TRIP).
What are top analysts saying about TripAdvisor Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for TripAdvisor Inc. and related companies.