Bank of America Corp DE Sells 539,392 Shares of Tripadvisor, Inc. (NASDAQ:TRIP)

Bank of America Corp DE trimmed its position in shares of Tripadvisor, Inc. (NASDAQ:TRIP) by 79.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,879 shares of the travel company’s stock after selling 539,392 shares during the quarter. Bank of America Corp DE owned 0.10% of Tripadvisor worth $2,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ExodusPoint Capital Management LP bought a new position in shares of Tripadvisor during the fourth quarter worth $5,170,000. Ieq Capital LLC raised its holdings in shares of Tripadvisor by 391.1% during the fourth quarter. Ieq Capital LLC now owns 63,680 shares of the travel company’s stock worth $941,000 after acquiring an additional 50,713 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Tripadvisor during the fourth quarter worth $308,000. U S Global Investors Inc. raised its holdings in shares of Tripadvisor by 2.0% during the fourth quarter. U S Global Investors Inc. now owns 1,543,056 shares of the travel company’s stock worth $22,791,000 after acquiring an additional 30,508 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Tripadvisor by 6.3% during the fourth quarter. Northern Trust Corp now owns 656,986 shares of the travel company’s stock worth $9,704,000 after acquiring an additional 38,858 shares during the period. 98.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRIP. DA Davidson raised their price objective on shares of Tripadvisor from $16.00 to $16.25 and gave the stock a “neutral” rating in a report on Thursday, May 29th. B. Riley dropped their price objective on shares of Tripadvisor from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Mizuho upgraded shares of Tripadvisor to a “hold” rating in a research note on Friday, April 18th. UBS Group lifted their price target on shares of Tripadvisor from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Citigroup assumed coverage on shares of Tripadvisor in a research note on Wednesday, May 28th. They issued a “neutral” rating and a $16.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tripadvisor presently has an average rating of “Hold” and a consensus target price of $17.27.

Tripadvisor Stock Down 1.6%

Tripadvisor stock opened at $14.01 on Tuesday. The firm has a market capitalization of $1.99 billion, a PE ratio of 700.85, a P/E/G ratio of 9.01 and a beta of 1.27. The company’s 50-day moving average is $13.26 and its 200-day moving average is $14.49. Tripadvisor, Inc. has a fifty-two week low of $10.43 and a fifty-two week high of $18.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.10 and a quick ratio of 1.85.

Tripadvisor (NASDAQ:TRIP) last released its quarterly earnings data on Wednesday, May 7th. The travel company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.09. The company had revenue of $398.00 million for the quarter, compared to analyst estimates of $386.94 million. Tripadvisor had a net margin of 0.33% and a return on equity of 9.02%. Tripadvisor’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. Sell-side analysts anticipate that Tripadvisor, Inc. will post 0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Almir Ambeskovic sold 16,643 shares of Tripadvisor stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.33, for a total transaction of $255,137.19. Following the completion of the sale, the chief executive officer now owns 15,931 shares of the company’s stock, valued at approximately $244,222.23. The trade was a 51.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

About Tripadvisor

TripAdvisor, Inc operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. The company operates in three segments: Brand Tripadvisor, Viator, and TheFork. The Brand Tripadvisor segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.