Arizona State Retirement System Boosts Stake in TripAdvisor Inc. (TRIP)
Arizona State Retirement System increased its stake in TripAdvisor Inc. (NASDAQ:TRIP) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 28,159 shares of the travel company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in TripAdvisor were worth $1,779,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Montrusco Bolton Investments Inc. increased its position in shares of TripAdvisor by 1.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 33,622 shares of the travel company’s stock valued at $2,162,000 after buying an additional 430 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of TripAdvisor during the second quarter valued at about $1,241,000. Nordea Investment Management AB increased its position in shares of TripAdvisor by 20.7% in the second quarter. Nordea Investment Management AB now owns 168,886 shares of the travel company’s stock valued at $10,859,000 after buying an additional 28,980 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of TripAdvisor by 5.0% in the second quarter. Eagle Asset Management Inc. now owns 202,596 shares of the travel company’s stock valued at $13,026,000 after buying an additional 9,710 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of TripAdvisor by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 21,967 shares of the travel company’s stock valued at $1,412,000 after buying an additional 5,285 shares in the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.
TripAdvisor Inc. (NASDAQ:TRIP) traded down 2.07% during midday trading on Wednesday, reaching $48.28. 2,706,159 shares of the company traded hands. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 58.03 and a beta of 2.31. TripAdvisor Inc. has a 12 month low of $48.25 and a 12 month high of $87.50. The firm’s 50 day moving average price is $58.50 and its 200 day moving average price is $63.17.
TripAdvisor (NASDAQ:TRIP) last posted its quarterly earnings results on Tuesday, November 8th. The travel company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $421 million for the quarter, compared to analyst estimates of $436.31 million. TripAdvisor had a net margin of 8.08% and a return on equity of 12.67%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. On average, analysts expect that TripAdvisor Inc. will post $1.54 earnings per share for the current year.
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Several brokerages recently issued reports on TRIP. Deutsche Bank AG downgraded TripAdvisor from a “buy” rating to a “hold” rating and cut their price objective for the stock from $71.00 to $63.00 in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $90.00 price target on shares of TripAdvisor in a report on Friday, August 5th. Credit Suisse Group AG reiterated a “buy” rating and issued a $73.00 price target on shares of TripAdvisor in a report on Friday, August 5th. Cantor Fitzgerald reiterated a “hold” rating and issued a $67.00 price target on shares of TripAdvisor in a report on Friday, August 5th. Finally, Susquehanna started coverage on TripAdvisor in a report on Wednesday, October 19th. They issued a “neutral” rating and a $55.00 price target for the company. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have issued a buy rating to the company. TripAdvisor currently has an average rating of “Hold” and a consensus target price of $63.08.
In other news, Viator CEO Barrie Seidenberg sold 4,274 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $60.77, for a total transaction of $259,730.98. Following the completion of the transaction, the insider now directly owns 286 shares of the company’s stock, valued at approximately $17,380.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Seth J. Kalvert sold 1,687 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $60.50, for a total transaction of $102,063.50. Following the transaction, the senior vice president now directly owns 10,653 shares of the company’s stock, valued at $644,506.50. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.
TripAdvisor Company Profile
TripAdvisor, Inc is an online travel company, which owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s flagship brand, is a travel Website. The Company operates in two segments. The Hotel segment’s services include making hotel room nights available for price comparison and booking, including instant booking feature, as well as subscription-based hotel products, such as Business Listings, and transaction-based hotel products, such as Jetsetter and Tingo.
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