Cannon Global Investment Management LLC Invests $492,000 in TripAdvisor, Inc. $TRIP

Cannon Global Investment Management LLC bought a new stake in shares of TripAdvisor, Inc. (NASDAQ:TRIP) in the first quarter, Holdings Channel.com reports. The fund bought 46,200 shares of the travel company’s stock, valued at approximately $492,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Essex Financial Services Inc. increased its stake in TripAdvisor by 4.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,864 shares of the travel company’s stock worth $260,000 after buying an additional 776 shares during the period. Acorn Financial Advisory Services Inc. ADV grew its stake in TripAdvisor by 1.3% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 64,053 shares of the travel company’s stock worth $933,000 after acquiring an additional 847 shares in the last quarter. State of Alaska Department of Revenue grew its stake in TripAdvisor by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 62,887 shares of the travel company’s stock worth $914,000 after acquiring an additional 1,091 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of TripAdvisor by 13.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,812 shares of the travel company’s stock worth $143,000 after acquiring an additional 1,126 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of TripAdvisor by 9.0% during the third quarter. PNC Financial Services Group Inc. now owns 14,182 shares of the travel company’s stock worth $231,000 after acquiring an additional 1,171 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BTIG Research reiterated a “buy” rating on shares of TripAdvisor in a report on Monday, June 15th. Bank of America upgraded TripAdvisor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $15.00 in a report on Friday, March 27th. JPMorgan Chase & Co. lowered their target price on TripAdvisor from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, May 8th. UBS Group dropped their price target on TripAdvisor from $16.00 to $13.70 and set a “neutral” rating on the stock in a research report on Monday, April 27th. Finally, Barclays cut their price target on TripAdvisor from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, TripAdvisor currently has an average rating of “Hold” and an average price target of $15.19.

Insider Buying and Selling

In related news, CEO Almir Ambeskovic sold 8,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 34,396 shares of the company’s stock, valued at $423,070.80. This represents a 18.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by insiders.

TripAdvisor Trading Up 7.5%

TRIP opened at $13.76 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 137.61, a PEG ratio of 2.51 and a beta of 0.90. TripAdvisor, Inc. has a 12 month low of $9.01 and a 12 month high of $20.16. The stock has a fifty day moving average price of $11.27 and a 200-day moving average price of $11.85.

TripAdvisor (NASDAQ:TRIP) last posted its earnings results on Thursday, May 7th. The travel company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.08). The company had revenue of $382.40 million during the quarter, compared to analysts’ expectations of $384.69 million. TripAdvisor had a net margin of 0.99% and a return on equity of 5.73%. TripAdvisor’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. As a group, equities research analysts anticipate that TripAdvisor, Inc. will post 0.69 earnings per share for the current fiscal year.

TripAdvisor Profile

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.