TripAdvisor (NASDAQ:TRIP) Given New $8.50 Price Target at B. Riley Financial

TripAdvisor (NASDAQ:TRIP) had its price target decreased by B. Riley Financial from $12.50 to $8.50 in a research note published on Friday,Benzinga reports. B. Riley Financial currently has a neutral rating on the travel company’s stock.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of TripAdvisor in a research note on Wednesday, August 12th. Cantor Fitzgerald decreased their target price on shares of TripAdvisor from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday. UBS Group lowered their target price on TripAdvisor from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 price target on shares of TripAdvisor in a report on Monday, July 20th. Finally, BTIG Research lowered shares of TripAdvisor from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $12.71.

TripAdvisor Price Performance

TRIP traded down $0.38 on Friday, hitting $7.00. 13,153,330 shares of the company’s stock were exchanged, compared to its average volume of 3,013,375. TripAdvisor has a fifty-two week low of $6.95 and a fifty-two week high of $16.04. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $8.94 and a 200-day moving average price of $10.91. The stock has a market cap of $820.40 million, a price-to-earnings ratio of -2.27, a P/E/G ratio of 3.80 and a beta of 0.87.

TripAdvisor (NASDAQ:TRIP) last issued its earnings results on Thursday, November 5th. The travel company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The business had revenue of $436.40 million during the quarter, compared to analyst estimates of $447.39 million. TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. TripAdvisor’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. As a group, equities analysts anticipate that TripAdvisor will post 0.34 earnings per share for the current year.

Insider Buying and Selling at TripAdvisor

In other news, CEO Almir Ambeskovic sold 8,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.45, for a total value of $75,600.00. Following the completion of the sale, the chief executive officer directly owned 30,456 shares of the company’s stock, valued at approximately $287,809.20. This represents a 20.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company’s stock.

Institutional Trading of TripAdvisor

Hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System boosted its holdings in TripAdvisor by 50.4% during the third quarter. Maryland State Retirement & Pension System now owns 25,509 shares of the travel company’s stock worth $214,000 after buying an additional 8,551 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of TripAdvisor in the third quarter valued at $239,000. Illinois Municipal Retirement Fund lifted its holdings in TripAdvisor by 10.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 64,367 shares of the travel company’s stock valued at $539,000 after purchasing an additional 6,214 shares in the last quarter. Ballast Asset Management LP raised its holdings in TripAdvisor by 69.0% in the 3rd quarter. Ballast Asset Management LP now owns 307,025 shares of the travel company’s stock valued at $2,570,000 after acquiring an additional 125,380 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in TripAdvisor by 108.9% in the 3rd quarter. Hennessy Advisors Inc. now owns 23,062 shares of the travel company’s stock worth $193,000 after buying an additional 12,021 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

TripAdvisor News Roundup

Here are the key news stories impacting TripAdvisor this week:

• Negative Sentiment: Quarterly results disappointed. Tripadvisor reported adjusted earnings of $0.37 per share versus analysts’ $0.43 estimate, while revenue of $436.4 million fell short of the $447.4 million consensus and declined 11.1% year over year. The company also reported a $313.1 million net loss, including an approximately $370 million goodwill impairment charge. Tripadvisor earnings report
• Negative Sentiment: Executive departures and restructuring add uncertainty. CEO Matt Goldberg is leaving, and reports also cite the CFO’s departure and job cuts as Tripadvisor pursues an overhaul. The outgoing CEO said the company’s Experiences strategy fell short, raising questions about execution and the turnaround. Tripadvisor job cuts and Experiences overhaul
• Negative Sentiment: Analysts lowered targets, with two maintaining bearish ratings. Barclays cut its target from $9 to $8 and kept an Underweight rating; Cantor Fitzgerald lowered its target from $8 to $6 and also rated the stock Underweight. B. Riley cut its target from $12.50 to $8.50 and moved to Neutral. Read More., Read More. and Read More.
• Negative Sentiment: A securities investigation adds another risk. A law firm announced an investigation into potential securities-law violations following the earnings-related selloff. This is an investigation notice, not a finding of wrongdoing. Investigation notice

About TripAdvisor

Tripadvisor, Inc (NASDAQ: TRIP) operates a global travel guidance and experiences platform. Its flagship Tripadvisor brand provides user-generated reviews, ratings, photos and travel information covering hotels, restaurants, attractions and destinations, helping travelers research and plan trips.

The company also operates Viator, an online marketplace for tours, activities and other travel experiences, and TheFork, a digital restaurant reservation platform serving diners and restaurants.