Acorn Financial Advisory Services Inc. ADV decreased its position in shares of TripAdvisor, Inc. (NASDAQ:TRIP) by 40.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,289 shares of the travel company’s stock after selling 22,591 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in TripAdvisor were worth $1,791,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc purchased a new stake in TripAdvisor during the fourth quarter valued at about $29,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of TripAdvisor in the fourth quarter worth about $35,000. Banque Cantonale Vaudoise purchased a new position in shares of TripAdvisor in the fourth quarter worth about $35,000. Valeo Financial Advisors LLC purchased a new position in shares of TripAdvisor in the first quarter worth about $65,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of TripAdvisor by 473.9% in the fourth quarter. Meeder Asset Management Inc. now owns 1,211 shares of the travel company’s stock worth $35,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 69.51% of the company’s stock.
Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on TripAdvisor from $26.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, February 22nd. Truist Securities lifted their price objective on TripAdvisor from $48.00 to $62.00 in a report on Monday, March 15th. Wells Fargo & Company lifted their price objective on TripAdvisor from $32.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 23rd. Truist raised their target price on TripAdvisor from $25.00 to $37.00 in a research note on Thursday, January 21st. Finally, Zacks Investment Research cut TripAdvisor from a “hold” rating to a “sell” rating and set a $28.00 target price on the stock. in a research note on Friday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. TripAdvisor currently has an average rating of “Hold” and a consensus price target of $38.11.
TripAdvisor (NASDAQ:TRIP) last announced its quarterly earnings data on Thursday, February 18th. The travel company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.01. TripAdvisor had a negative net margin of 24.54% and a negative return on equity of 15.76%. The company had revenue of $116.00 million during the quarter, compared to analyst estimates of $103.12 million. As a group, equities research analysts expect that TripAdvisor, Inc. will post -1.72 earnings per share for the current year.
TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotels, Media & Platform; and Experiences & Dining. 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.
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