Traders Sell TripAdvisor, Inc. (TRIP) on Strength on Disappointing Earnings
Traders sold shares of TripAdvisor, Inc. (NASDAQ:TRIP) on strength during trading hours on Wednesday following a dissappointing earnings announcement. $117.84 million flowed into the stock on the tick-up and $133.30 million flowed out of the stock on the tick-down, for a money net flow of $15.46 million out of the stock. Of all companies tracked, TripAdvisor had the 28th highest net out-flow for the day. TripAdvisor traded up $0.99 for the day and closed at $40.54The travel company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.05. TripAdvisor had a net margin of 6.87% and a return on equity of 8.87%. The company had revenue of $424 million for the quarter, compared to analyst estimates of $421.66 million. During the same period in the prior year, the company posted $0.38 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis.
TRIP has been the subject of several recent research reports. Royal Bank Of Canada reissued a “hold” rating and issued a $47.00 price target on shares of TripAdvisor in a research report on Monday. Zacks Investment Research raised shares of TripAdvisor from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Vetr lowered shares of TripAdvisor from a “buy” rating to a “hold” rating and set a $42.29 price target for the company. in a research report on Monday, April 17th. Credit Suisse Group lowered shares of 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 research report on Monday, June 19th. Finally, Barclays PLC dropped their price target on shares of TripAdvisor from $52.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.94.
Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. bought a new stake in TripAdvisor during the first quarter valued at approximately $113,000. Mn Services Vermogensbeheer B.V. boosted its stake in TripAdvisor by 6.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,213 shares of the travel company’s stock valued at $130,000 after buying an additional 201 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in TripAdvisor by 4.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,967 shares of the travel company’s stock valued at $171,000 after buying an additional 160 shares during the period. Sphera Funds Management LTD. bought a new stake in TripAdvisor during the first quarter valued at approximately $173,000. Finally, Nordea Investment Management AB boosted its stake in TripAdvisor by 3.5% in the first quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock valued at $198,000 after buying an additional 157 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.
The company has a market cap of $5.73 billion, a price-to-earnings ratio of 57.02 and a beta of 2.36. The company’s 50 day moving average is $37.64 and its 200-day moving average is $42.87. TripAdvisor also saw some unusual options trading activity on Tuesday. Traders bought 12,124 put options on the company. This is an increase of 753% compared to the typical daily volume of 1,421 put options.
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TripAdvisor Company Profile
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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