Prudential Financial Inc. Cuts Stake in TripAdvisor, Inc. (TRIP)
Prudential Financial Inc. decreased its stake in shares of TripAdvisor, Inc. (NASDAQ:TRIP) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,775 shares of the travel company’s stock after selling 1,690 shares during the period. Prudential Financial Inc. owned approximately 0.11% of TripAdvisor worth $5,798,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cutter & CO Brokerage Inc. boosted its stake in shares of TripAdvisor by 0.5% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 6,520 shares of the travel company’s stock valued at $249,000 after purchasing an additional 30 shares in the last quarter. Aviva PLC boosted its stake in shares of TripAdvisor by 1.8% during the 2nd quarter. Aviva PLC now owns 65,673 shares of the travel company’s stock valued at $2,509,000 after purchasing an additional 1,150 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of TripAdvisor by 18.2% during the 2nd quarter. Victory Capital Management Inc. now owns 22,826 shares of the travel company’s stock valued at $872,000 after purchasing an additional 3,522 shares in the last quarter. Twin Capital Management Inc. bought a new stake in shares of TripAdvisor during the 2nd quarter valued at about $598,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of TripAdvisor by 2.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 331,049 shares of the travel company’s stock valued at $12,646,000 after purchasing an additional 8,799 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on TRIP shares. ValuEngine raised shares of TripAdvisor from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Cowen and Company raised shares of TripAdvisor from an “underperform” rating to a “market perform” rating and set a $35.00 target price on the stock in a research note on Wednesday, July 19th. BidaskClub lowered shares of TripAdvisor from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Bank of America Corporation reissued an “underperform” rating and set a $35.00 price objective on shares of TripAdvisor in a research note on Sunday, May 28th. Finally, Credit Suisse Group lowered shares of TripAdvisor from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $40.00 to $34.00 in a research note on Monday, June 19th. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.44.
In related news, insider Dermot Halpin sold 12,859 shares of TripAdvisor stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $39.09, for a total value of $502,658.31. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is owned by company insiders.
TripAdvisor, Inc. (NASDAQ:TRIP) opened at 43.93 on Monday. The stock has a market capitalization of $6.10 billion, a PE ratio of 66.46 and a beta of 2.37. The stock’s 50 day moving average is $41.53 and its 200 day moving average is $41.15. TripAdvisor, Inc. has a 12-month low of $35.34 and a 12-month high of $66.13.
TripAdvisor (NASDAQ:TRIP) last released its earnings results on Tuesday, August 8th. The travel company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The company had revenue of $424.00 million during the quarter, compared to analyst estimates of $421.66 million. TripAdvisor had a return on equity of 8.62% and a net margin of 6.26%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. Equities analysts anticipate that TripAdvisor, Inc. will post $1.15 EPS for the current fiscal 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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