Summit Securities Group LLC purchased a new position in TripAdvisor, Inc. (NASDAQ:TRIP) during the second quarter, Holdings Channel reports. The firm purchased 21,231 shares of the travel company’s stock, valued at approximately $811,000.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of TripAdvisor by 1,932.9% in the first quarter. BlackRock Inc. now owns 7,169,686 shares of the travel company’s stock worth $309,444,000 after buying an additional 6,817,010 shares during the period. SRS Investment Management LLC acquired a new stake in shares of TripAdvisor during the first quarter worth approximately $125,824,000. York Capital Management Global Advisors LLC acquired a new stake in shares of TripAdvisor during the first quarter worth approximately $18,640,000. Global Thematic Partners LLC acquired a new stake in shares of TripAdvisor during the first quarter worth approximately $17,286,000. Finally, Norges Bank acquired a new stake in shares of TripAdvisor during the fourth quarter worth approximately $18,194,000. Institutional investors and hedge funds own 89.06% of the company’s stock.
TripAdvisor, Inc. (NASDAQ TRIP) opened at 39.71 on Friday. The company’s 50-day moving average price is $38.02 and its 200 day moving average price is $42.51. TripAdvisor, Inc. has a 52-week low of $35.34 and a 52-week high of $66.13. The stock has a market capitalization of $5.51 billion, a PE ratio of 57.38 and a beta of 2.36. TripAdvisor also was the target of unusually large options trading on Tuesday. Stock investors purchased 12,124 put options on the company. This represents an increase of approximately 753% compared to the average daily volume of 1,421 put options.
TripAdvisor (NASDAQ:TRIP) last issued its quarterly earnings results on Tuesday, August 8th. The travel company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.05. TripAdvisor had a return on equity of 8.62% and a net margin of 6.26%. The business had revenue of $424 million during the quarter, compared to analysts’ expectations of $421.66 million. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts forecast that TripAdvisor, Inc. will post $1.15 EPS for the current fiscal year.
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TRIP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded TripAdvisor from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Credit Suisse Group lowered TripAdvisor from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $40.00 to $34.00 in a report on Monday, June 19th. Hilliard Lyons upgraded TripAdvisor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $45.00 to $65.00 in a research note on Friday, May 12th. Vetr lowered TripAdvisor from a “buy” rating to a “hold” rating and set a $42.29 target price on the stock. in a research note on Monday, April 17th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $35.00 target price on shares of TripAdvisor in a research note on Sunday, May 28th. 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. TripAdvisor has an average rating of “Hold” and a consensus 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.
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