Point72 Asset Management L.P. Buys 553,301 Shares of TripAdvisor, Inc. (NASDAQ:TRIP)

Point72 Asset Management L.P. boosted its stake in shares of TripAdvisor, Inc. (NASDAQ:TRIP) by 127.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 986,999 shares of the travel company’s stock after purchasing an additional 553,301 shares during the quarter. Point72 Asset Management L.P.’s holdings in TripAdvisor were worth $53,091,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Eaton Vance Management acquired a new position in shares of TripAdvisor during the first quarter worth approximately $34,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of TripAdvisor during the first quarter worth approximately $40,000. Harbour Investments Inc. acquired a new position in shares of TripAdvisor during the first quarter worth approximately $48,000. Vantage Consulting Group Inc acquired a new position in shares of TripAdvisor during the fourth quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of TripAdvisor during the first quarter worth approximately $56,000. Institutional investors own 75.21% of the company’s stock.

A number of research analysts recently commented on TRIP shares. Jefferies Financial Group upped their target price on TripAdvisor from $24.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, April 13th. Credit Suisse Group upped their target price on TripAdvisor from $31.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, May 10th. Ascendiant Capital Markets upped their target price on TripAdvisor from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, June 14th. They noted that the move was a valuation call. Mizuho upped their target price on TripAdvisor from $30.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 10th. Finally, Wolfe Research assumed coverage on TripAdvisor in a research note on Wednesday, March 31st. They issued a “peer perform” rating and a $51.00 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $42.28.

In related news, insider Lindsay Nelson sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $43.56, for a total value of $392,040.00. Following the transaction, the insider now owns 15,642 shares in the company, valued at $681,365.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ernst 02494 Teunissen sold 1,527 shares of the firm’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $41.00, for a total value of $62,607.00. Following the completion of the transaction, the chief financial officer now owns 2,744 shares in the company, valued at approximately $112,504. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Shares of TRIP stock opened at $36.64 on Thursday. The business’s fifty day simple moving average is $40.33. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $5.02 billion, a PE ratio of -13.93 and a beta of 1.40. TripAdvisor, Inc. has a 52 week low of $18.24 and a 52 week high of $64.95.

TripAdvisor (NASDAQ:TRIP) last announced its earnings results on Thursday, May 6th. The travel company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.08. The company had revenue of $123.00 million for the quarter, compared to analysts’ expectations of $120.00 million. TripAdvisor had a negative return on equity of 36.74% and a negative net margin of 78.84%. The business’s revenue for the quarter was down 55.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share. Equities research analysts forecast that TripAdvisor, Inc. will post -0.73 earnings per share for the current year.

About TripAdvisor

TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotels, Media & Platform; and Experiences & Dining. The company operates TripAdvisor-branded websites, including tripadvisor.com in the United States; and localized versions of the website in 48 markets and 28 languages.

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Institutional Ownership by Quarter for TripAdvisor (NASDAQ:TRIP)

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