TripAdvisor Inc. (TRIP) Sees Unusually-High Trading Volume
TripAdvisor Inc. (NASDAQ:TRIP) saw unusually-high trading volume on Friday . Approximately 3,291,153 shares changed hands during mid-day trading, an increase of 52% from the previous session’s volume of 2,168,799 shares.The stock last traded at $61.92 and had previously closed at $63.59.
TRIP has been the subject of a number of research analyst reports. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $95.00 price target on shares of TripAdvisor in a research note on Saturday, June 25th. Jefferies Group lowered their price objective on TripAdvisor from $70.00 to $68.00 and set a “hold” rating for the company in a research report on Monday, August 1st. Vetr raised TripAdvisor to a “top pick” rating in a research report on Friday, April 15th. Citigroup Inc. raised TripAdvisor to a “market perform” rating in a research report on Thursday, July 28th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lowered their price objective on TripAdvisor from $66.00 to $61.00 and set a “neutral” rating for the company in a research report on Sunday, April 10th. Three equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $70.84.
The firm has a market cap of $8.86 billion and a P/E ratio of 54.83. The company has a 50-day moving average price of $66.69 and a 200-day moving average price of $65.13.
TripAdvisor (NASDAQ:TRIP) last announced its quarterly earnings data on Wednesday, August 3rd. The travel company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.04. The firm earned $391 million during the quarter. During the same period last year, the firm earned $0.54 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts anticipate that TripAdvisor Inc. will post $1.59 earnings per share for the current year.
In other news, insider Dermot Halpin sold 7,026 shares of the stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $66.21, for a total value of $465,191.46. Following the transaction, the insider now directly owns 7,926 shares of the company’s stock, valued at $524,780.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and institutional investors have recently made changes to their positions in TRIP. Jennison Associates LLC raised its position 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 worth $66,395,000 after buying an additional 192,121 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of TripAdvisor during the fourth quarter worth $1,131,000. Atlantic Trust Group LLC raised its position in shares of TripAdvisor by 31.4% in the fourth quarter. Atlantic Trust Group LLC now owns 30,527 shares of the travel company’s stock worth $2,602,000 after buying an additional 7,296 shares in the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of TripAdvisor by 7.5% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 69,702 shares of the travel company’s stock worth $5,824,000 after buying an additional 4,837 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of TripAdvisor by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 152,891 shares of the travel company’s stock worth $13,032,000 after buying an additional 3,089 shares in 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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