TripAdvisor Inc. (TRIP) Sees Strong Trading Volume
Shares of TripAdvisor Inc. (NASDAQ:TRIP) saw unusually-strong trading volume on Wednesday . Approximately 1,864,733 shares were traded during trading, an increase of 1% from the previous session’s volume of 1,843,532 shares.The stock last traded at $68.75 and had previously closed at $69.72.
A number of equities research analysts have recently weighed in on TRIP shares. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $95.00 target price on shares of TripAdvisor in a research note on Saturday, June 25th. Vetr raised shares of TripAdvisor from a “hold” rating to a “buy” rating and set a $67.99 target price on the stock in a research note on Monday, March 21st. JPMorgan Chase & Co. cut their target price on shares of TripAdvisor from $66.00 to $61.00 and set a “neutral” rating on the stock in a research note on Sunday, April 10th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $70.00 target price (down previously from $74.00) on shares of TripAdvisor in a research note on Tuesday, July 5th. Finally, Zacks Investment Research lowered shares of TripAdvisor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 10th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $74.88.
The stock has a market capitalization of $9.99 billion and a PE ratio of 61.85. The stock has a 50 day moving average price of $66.06 and a 200 day moving average price of $66.15.
TripAdvisor (NASDAQ:TRIP) last released its earnings results on Wednesday, May 4th. The travel company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $352 million for the quarter, compared to the consensus estimate of $370.59 million. During the same period in the previous year, the business earned $0.54 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts anticipate that TripAdvisor Inc. will post $1.70 EPS for the current year.
In related news, insider Dermot Halpin sold 7,026 shares of TripAdvisor stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $66.21, for a total value of $465,191.46. Following the completion of the sale, the insider now directly owns 7,926 shares in the company, valued at approximately $524,780.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds recently added to or reduced their stakes in TRIP. Baillie Gifford & Co. boosted its stake in TripAdvisor by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 9,853,642 shares of the travel company’s stock worth $840,023,000 after buying an additional 223,636 shares during the period. Vanguard Group Inc. boosted its stake in shares of TripAdvisor by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 9,427,178 shares of the travel company’s stock valued at $803,668,000 after buying an additional 271,777 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of TripAdvisor by 32.7% in the fourth quarter. Jennison Associates LLC now owns 778,831 shares of the travel company’s stock valued at $66,395,000 after buying an additional 192,121 shares during the last quarter. Asturias Capital LLC acquired a new stake in shares of TripAdvisor during the fourth quarter valued at approximately $41,474,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of TripAdvisor by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 297,661 shares of the travel company’s stock valued at $25,378,000 after buying an additional 11,561 shares during the last quarter.
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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