P Schoenfeld Asset Management LP Purchases Shares of 86,000 TripAdvisor, Inc. $TRIP

P Schoenfeld Asset Management LP purchased a new position in shares of TripAdvisor, Inc. (NASDAQ:TRIP) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 86,000 shares of the travel company’s stock, valued at approximately $1,179,060,000. TripAdvisor comprises about 0.5% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 23rd largest position.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of TripAdvisor by 29.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,998 shares of the travel company’s stock worth $1,162,000 after purchasing an additional 18,699 shares during the period. Jones Financial Companies Lllp increased its position in TripAdvisor by 1,183.2% during the 1st quarter. Jones Financial Companies Lllp now owns 6,416 shares of the travel company’s stock worth $85,000 after purchasing an additional 5,916 shares in the last quarter. Empowered Funds LLC raised its holdings in TripAdvisor by 14.2% in the first quarter. Empowered Funds LLC now owns 13,475 shares of the travel company’s stock valued at $191,000 after buying an additional 1,676 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in TripAdvisor by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,532 shares of the travel company’s stock valued at $4,216,000 after buying an additional 22,136 shares during the period. Finally, Creative Planning acquired a new position in TripAdvisor during the second quarter valued at approximately $349,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TRIP shares. DA Davidson increased their price objective on shares of TripAdvisor from $10.50 to $15.50 and gave the stock a “neutral” rating in a research report on Monday, June 15th. Barclays reduced their target price on shares of TripAdvisor from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of TripAdvisor in a research report on Wednesday, August 12th. UBS Group lowered their price target on TripAdvisor from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. cut their price objective on TripAdvisor from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $14.12.

TripAdvisor Price Performance

Shares of NASDAQ TRIP opened at $10.00 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.28. TripAdvisor, Inc. has a fifty-two week low of $9.01 and a fifty-two week high of $20.16. The business has a 50 day moving average price of $12.98 and a two-hundred day moving average price of $11.51. The firm has a market cap of $1.17 billion, a PE ratio of 1,001.00, a price-to-earnings-growth ratio of 3.72 and a beta of 0.86.

TripAdvisor (NASDAQ:TRIP) last announced its earnings results on Thursday, August 6th. The travel company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $385.30 million during the quarter, compared to analyst estimates of $506.27 million. TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. Sell-side analysts expect that TripAdvisor, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Almir Ambeskovic sold 8,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.30, for a total value of $98,400.00. Following the sale, the chief executive officer directly 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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

About TripAdvisor

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.