World Asset Management Inc cut its position in shares of TripAdvisor, Inc. (NASDAQ:TRIP) by 16.4% during the second quarter, Holdings Channel reports. The institutional investor owned 10,170 shares of the travel company’s stock after selling 1,999 shares during the period. World Asset Management Inc’s holdings in TripAdvisor were worth $388,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TRIP. Daiwa Securities Group Inc. increased its position in shares of TripAdvisor by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 15,950 shares of the travel company’s stock worth $609,000 after buying an additional 800 shares in the last quarter. Lourd Capital LLC boosted its stake in shares of TripAdvisor by 0.6% in the second quarter. Lourd Capital LLC now owns 7,497 shares of the travel company’s stock valued at $286,000 after buying an additional 47 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of TripAdvisor by 4.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,930 shares of the travel company’s stock valued at $417,000 after buying an additional 466 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of TripAdvisor by 28.4% in the second quarter. Shell Asset Management Co. now owns 8,776 shares of the travel company’s stock valued at $335,000 after buying an additional 1,942 shares during the last quarter. Finally, Financial Architects Inc boosted its stake in shares of TripAdvisor by 31.8% in the second quarter. Financial Architects Inc now owns 10,030 shares of the travel company’s stock valued at $383,000 after buying an additional 2,420 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

Shares of TripAdvisor, Inc. (NASDAQ TRIP) opened at 42.18 on Friday. The stock has a 50 day moving average price of $38.21 and a 200 day moving average price of $42.44. TripAdvisor, Inc. has a 52-week low of $35.34 and a 52-week high of $66.13. The company has a market capitalization of $5.85 billion, a PE ratio of 63.81 and a beta of 2.36.

TripAdvisor (NASDAQ:TRIP) last issued its earnings results on Tuesday, August 8th. The travel company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.05. TripAdvisor had a return on equity of 8.62% and a net margin of 6.26%. The business had revenue of $424 million for the quarter, compared to the consensus estimate of $421.66 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that TripAdvisor, Inc. will post $1.15 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “World Asset Management Inc Reduces Position in TripAdvisor, Inc. (TRIP)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2017/08/13/world-asset-management-inc-reduces-position-in-tripadvisor-inc-trip.html.

Several brokerages recently commented on TRIP. BidaskClub raised TripAdvisor from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $32.00 price target (down previously from $40.00) on shares of TripAdvisor in a research note on Thursday. Cowen and Company reissued a “market perform” rating and issued a $42.00 price target (up previously from $40.00) on shares of TripAdvisor in a research note on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $40.00 price target (down previously from $45.00) on shares of TripAdvisor in a research note on Thursday. Finally, UBS AG reissued a “neutral” rating and issued a $43.00 price target (down previously from $50.00) on shares of TripAdvisor in a research note on Thursday. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. TripAdvisor currently has an average rating of “Hold” and a consensus target price of $44.82.

About TripAdvisor

TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.

Want to see what other hedge funds are holding TRIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TripAdvisor, Inc. (NASDAQ:TRIP).

Institutional Ownership by Quarter for TripAdvisor (NASDAQ:TRIP)

Receive News & Ratings for TripAdvisor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TripAdvisor Inc. and related companies with MarketBeat.com's FREE daily email newsletter.