Texas Permanent School Fund lowered its stake in Tripadvisor Inc (NASDAQ:TRIP) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,964 shares of the travel company’s stock after selling 3,186 shares during the period. Texas Permanent School Fund’s holdings in Tripadvisor were worth $1,173,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of TRIP. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Tripadvisor by 3,977.0% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,107,553 shares of the travel company’s stock valued at $107,632,000 after buying an additional 2,055,859 shares in the last quarter. Select Equity Group L.P. bought a new position in shares of Tripadvisor in the second quarter valued at $55,356,000. Smith Asset Management Group LP bought a new position in shares of Tripadvisor in the second quarter valued at $30,275,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Tripadvisor in the second quarter valued at $29,050,000. Finally, Millennium Management LLC increased its holdings in shares of Tripadvisor by 217.2% in the second quarter. Millennium Management LLC now owns 388,119 shares of the travel company’s stock valued at $21,622,000 after buying an additional 265,779 shares in the last quarter. 89.58% of the stock is currently owned by institutional investors.
Shares of NASDAQ:TRIP opened at $63.30 on Friday. Tripadvisor Inc has a 12-month low of $29.50 and a 12-month high of $69.00. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 79.55, a PEG ratio of 4.57 and a beta of 1.48.
Tripadvisor (NASDAQ:TRIP) last announced its earnings results on Wednesday, November 7th. The travel company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.24. Tripadvisor had a net margin of 1.38% and a return on equity of 7.56%. The company had revenue of $458.00 million for the quarter, compared to the consensus estimate of $469.09 million. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Tripadvisor Inc will post 0.83 earnings per share for the current year.
In other news, insider Noel Bertram Watson sold 726 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $53.71, for a total transaction of $38,993.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.
TRIP has been the topic of several research reports. BidaskClub raised Tripadvisor from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Wedbush set a $48.00 price target on Tripadvisor and gave the company a “hold” rating in a report on Sunday, August 5th. Zacks Investment Research raised Tripadvisor from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine raised shares of Tripadvisor from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Credit Suisse Group raised shares of Tripadvisor from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $44.00 to $51.00 in a research note on Thursday, October 25th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $53.17.
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TripAdvisor, Inc operates as an online travel company. The company operates in two segments, Hotel and Non-Hotel. Its travel platform aggregates reviews and opinions of members about destinations, accommodations, activities and attractions, and restaurants, which enables users to research and plan their travel experiences, as well as book hotels, flights, cruises, vacation rentals, tours, activities and attractions, and restaurant reservations on its site or mobile app, or on the site or app of travel partner sites.
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