Tuniu (NASDAQ:TOUR) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
Separately, Credit Suisse Group cut shares of Tuniu from an “outperform” rating to a “neutral” rating in a research note on Wednesday.
Tuniu (TOUR) opened at $6.80 on Friday. Tuniu has a 52 week low of $6.69 and a 52 week high of $9.88. The company has a market cap of $893.41, a price-to-earnings ratio of -7.47 and a beta of 1.42.
Tuniu declared that its board has approved a share repurchase program on Friday, January 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the stock. Yiheng Capital LLC boosted its stake in shares of Tuniu by 14.0% during the 4th quarter. Yiheng Capital LLC now owns 2,295,332 shares of the technology company’s stock worth $17,605,000 after purchasing an additional 281,558 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Tuniu by 69.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,099,000 shares of the technology company’s stock worth $8,429,000 after purchasing an additional 451,900 shares during the period. Millennium Management LLC boosted its stake in shares of Tuniu by 147.3% during the 4th quarter. Millennium Management LLC now owns 764,955 shares of the technology company’s stock worth $5,867,000 after purchasing an additional 455,645 shares during the period. Hermes Investment Management Ltd. boosted its stake in shares of Tuniu by 30.3% during the 4th quarter. Hermes Investment Management Ltd. now owns 723,087 shares of the technology company’s stock worth $5,546,000 after purchasing an additional 168,150 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Tuniu by 1.3% during the 4th quarter. BlackRock Inc. now owns 585,633 shares of the technology company’s stock worth $4,491,000 after purchasing an additional 7,580 shares during the period.
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Tuniu Corporation is an online leisure travel company. The Company offers a selection of packaged tours, including organized tours and self-guided tours, as well as travel-related services for leisure travelers. Its online platform, which consists of its tuniu.com Website and mobile platform, provides product and travel information to enable leisure travelers to plan their travels.
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