Persistent Asset Partners Ltd Invests $2.17 Million in TripAdvisor, Inc. $TRIP

Persistent Asset Partners Ltd acquired a new stake in TripAdvisor, Inc. (NASDAQ:TRIP) during the second quarter, HoldingsChannel.com reports. The fund acquired 158,456 shares of the travel company’s stock, valued at approximately $2,172,000. TripAdvisor accounts for about 0.6% of Persistent Asset Partners Ltd’s holdings, making the stock its 28th largest position.

Other large investors also recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in TripAdvisor during the fourth quarter worth $33,000. UMB Bank n.a. boosted its position in TripAdvisor by 295.2% during the fourth quarter. UMB Bank n.a. now owns 2,300 shares of the travel company’s stock valued at $33,000 after acquiring an additional 1,718 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in TripAdvisor by 192.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,767 shares of the travel company’s stock valued at $40,000 after acquiring an additional 1,821 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in TripAdvisor during the 3rd quarter worth about $58,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in TripAdvisor during the 4th quarter worth about $58,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRIP. B. Riley Financial dropped their price objective on TripAdvisor from $13.00 to $12.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Wedbush lifted their target price on TripAdvisor from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. The Goldman Sachs Group reissued a “buy” rating and issued a $16.00 price target on shares of TripAdvisor in a research note on Monday, July 20th. DA Davidson increased their price target on TripAdvisor from $10.50 to $15.50 and gave the stock a “neutral” rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TripAdvisor from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $14.46.

Insiders Place Their Bets

In other TripAdvisor news, CEO Almir Ambeskovic sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.30, for a total value of $98,400.00. Following the transaction, the chief executive officer owned 34,396 shares in the company, valued at approximately $423,070.80. This represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

TripAdvisor Price Performance

Shares of NASDAQ TRIP opened at $10.74 on Monday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 1,075.08, a P/E/G ratio of 2.11 and a beta of 0.86. The firm’s 50-day moving average price is $13.16 and its 200-day moving average price is $11.61. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.28. TripAdvisor, Inc. has a 1-year low of $9.01 and a 1-year high of $20.16.

TripAdvisor (NASDAQ:TRIP) last issued its earnings results on Thursday, August 6th. The travel company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The firm had revenue of $385.30 million during the quarter, compared to analyst estimates of $506.27 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Equities research analysts anticipate that TripAdvisor, Inc. will post 0.69 earnings per share for the current fiscal year.

TripAdvisor Company Profile

TripAdvisor (NASDAQ:TRIP) is a leading online travel company that operates a digital platform for travel information, reviews and booking services. The company’s flagship website and mobile apps allow users to access and contribute travel-related content—ranging from hotel and restaurant reviews to ratings for tours, attractions and vacation rentals—helping consumers plan and book trips around the world.

The core of TripAdvisor’s offering is its community-driven review system, which aggregates user-generated feedback alongside editorial content and professional photography.