TripAdvisor, Inc. (TRIP) Shares Sold by Macquarie Group Ltd.
Macquarie Group Ltd. reduced its holdings in TripAdvisor, Inc. (NASDAQ:TRIP) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,405,552 shares of the travel company’s stock after selling 243,803 shares during the quarter. Macquarie Group Ltd. owned about 1.73% of TripAdvisor worth $91,891,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of TRIP. BlackRock Inc. increased its holdings in TripAdvisor by 1,932.9% in the first quarter. BlackRock Inc. now owns 7,169,686 shares of the travel company’s stock worth $309,444,000 after purchasing an additional 6,817,010 shares in the last quarter. SRS Investment Management LLC bought a new stake in TripAdvisor in the first quarter worth approximately $125,824,000. Contrarius Investment Management Ltd bought a new stake in TripAdvisor in the second quarter worth approximately $38,084,000. FIL Ltd increased its holdings in TripAdvisor by 45.4% in the second quarter. FIL Ltd now owns 1,678,180 shares of the travel company’s stock worth $64,106,000 after purchasing an additional 523,769 shares in the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in TripAdvisor in the second quarter worth approximately $19,979,000. Institutional investors and hedge funds own 86.18% of the company’s stock.
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A number of brokerages have weighed in on TRIP. ValuEngine upgraded TripAdvisor from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Cowen and Company reiterated a “hold” rating and issued a $42.00 target price on shares of TripAdvisor in a report on Tuesday, September 12th. Jefferies Group LLC downgraded TripAdvisor from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $30.00 in a report on Thursday, August 24th. Zacks Investment Research downgraded TripAdvisor from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, KeyCorp reiterated a “hold” rating on shares of TripAdvisor in a report on Wednesday. Nine analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company. TripAdvisor has a consensus rating of “Hold” and a consensus target price of $42.83.
In other news, insider Dermot Halpin sold 12,859 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $39.09, for a total value of $502,658.31. Following the transaction, the insider now directly owns 5,364 shares in the company, valued at approximately $209,678.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.09% of the company’s stock.
Shares of TripAdvisor, Inc. (TRIP) traded up 0.46% during mid-day trading on Thursday, hitting $43.60. The company’s stock had a trading volume of 1,515,673 shares. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 65.96 and a beta of 2.38. The stock’s 50 day moving average price is $42.59 and its 200 day moving average price is $41.14. TripAdvisor, Inc. has a 52-week low of $35.34 and a 52-week high of $65.89.
TripAdvisor (NASDAQ:TRIP) last issued its earnings results on Tuesday, August 8th. The travel company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.05). TripAdvisor had a net margin of 6.26% and a return on equity of 8.62%. The business had revenue of $424.00 million for the quarter, compared to analysts’ expectations of $421.66 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that TripAdvisor, Inc. will post $1.13 EPS for the current year.
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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