Cannon Global Investment Management LLC Takes $492,000 Position in TripAdvisor, Inc. $TRIP

Cannon Global Investment Management LLC bought a new position in shares of TripAdvisor, Inc. (NASDAQ:TRIP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 46,200 shares of the travel company’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRIP. UMB Bank n.a. boosted its stake in TripAdvisor by 295.2% in the 4th quarter. UMB Bank n.a. now owns 2,300 shares of the travel company’s stock worth $33,000 after purchasing an additional 1,718 shares during the period. Kestra Advisory Services LLC bought a new position in shares of TripAdvisor during the fourth quarter worth $33,000. Rockefeller Capital Management L.P. grew its stake 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 in the last quarter. Tower Research Capital LLC TRC grew its stake in TripAdvisor by 308.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,077 shares of the travel company’s stock valued at $53,000 after acquiring an additional 3,078 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in TripAdvisor in the 3rd quarter valued at $58,000. Institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America upgraded shares of TripAdvisor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $15.00 in a research note on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of TripAdvisor in a report on Friday, May 15th. JPMorgan Chase & Co. decreased their target price on TripAdvisor from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, May 8th. BTIG Research reissued a “buy” rating on shares of TripAdvisor in a research note on Monday, June 15th. Finally, DA Davidson increased their price target on TripAdvisor from $10.50 to $15.50 and gave the company a “neutral” rating in a research note on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, TripAdvisor presently has an average rating of “Hold” and an average price target of $15.19.

Insider Buying and Selling at TripAdvisor

In other news, CEO Almir Ambeskovic sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.30, for a total value of $98,400.00. Following the completion of the sale, the chief executive officer owned 34,396 shares in the company, valued at approximately $423,070.80. This trade represents a 18.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.00% of the company’s stock.

TripAdvisor Price Performance

NASDAQ:TRIP opened at $13.76 on Friday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 137.61, a PEG ratio of 2.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $11.85. TripAdvisor, Inc. has a 1 year low of $9.01 and a 1 year high of $20.16.

TripAdvisor (NASDAQ:TRIP) last released its earnings results on Thursday, May 7th. The travel company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.08). The company had revenue of $382.40 million for the quarter, compared to the consensus estimate of $384.69 million. TripAdvisor had a net margin of 0.99% and a return on equity of 5.73%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. Equities analysts forecast that TripAdvisor, Inc. will post 0.69 EPS for the current year.

About TripAdvisor

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.