Wallace Capital Management Inc. Takes $1.49 Million Position in TripAdvisor, Inc. $TRIP

Wallace Capital Management Inc. acquired a new stake in shares of TripAdvisor, Inc. (NASDAQ:TRIP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 108,543 shares of the travel company’s stock, valued at approximately $1,488,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new position in shares of TripAdvisor during the 2nd quarter valued at $2,172,000. U S Global Investors Inc. increased its stake in TripAdvisor by 32.3% in the 1st quarter. U S Global Investors Inc. now owns 1,372,941 shares of the travel company’s stock worth $14,636,000 after buying an additional 335,087 shares in the last quarter. K.J. Harrison & Partners Inc raised its holdings in TripAdvisor by 316.7% during the first quarter. K.J. Harrison & Partners Inc now owns 125,000 shares of the travel company’s stock valued at $1,332,000 after acquiring an additional 95,000 shares during the period. Leonteq Securities AG raised its holdings in TripAdvisor by 153.9% during the first quarter. Leonteq Securities AG now owns 242,483 shares of the travel company’s stock valued at $2,585,000 after acquiring an additional 146,977 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of TripAdvisor by 15.6% in the first quarter. Bank of America Corp DE now owns 842,334 shares of the travel company’s stock valued at $8,979,000 after acquiring an additional 113,843 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRIP has been the subject of a number of recent analyst reports. Wedbush upped their price objective on TripAdvisor from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. The Goldman Sachs Group reissued a “buy” rating and set a $16.00 target price on shares of TripAdvisor in a research note on Monday, July 20th. BTIG Research cut TripAdvisor from a “buy” rating to a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d)” rating on shares of TripAdvisor in a research note on Wednesday, August 12th. Finally, B. Riley Financial cut their price objective on shares of TripAdvisor from $13.00 to $12.50 and set a “neutral” rating for the company in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $14.12.

Insider Buying and Selling

In related news, CEO Almir Ambeskovic sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.30, for a total transaction of $98,400.00. Following the completion of the transaction, the chief executive officer directly owned 34,396 shares of the company’s stock, valued at approximately $423,070.80. This represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company’s stock.

TripAdvisor Stock Down 2.3%

Shares of TRIP stock opened at $9.87 on Thursday. The company’s fifty day simple moving average is $12.83 and its two-hundred day simple moving average is $11.45. TripAdvisor, Inc. has a 52 week low of $9.01 and a 52 week high of $20.16. The stock has a market cap of $1.16 billion, a P/E ratio of 987.99, a PEG ratio of 3.75 and a beta of 0.86. 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 (NASDAQ:TRIP) last issued its quarterly earnings data on Thursday, August 6th. The travel company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The firm had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $506.27 million. During the same quarter in the previous year, the business earned $0.46 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts predict that TripAdvisor, Inc. will post 0.36 EPS for the current fiscal year.

TripAdvisor Profile

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.