TripAdvisor (NASDAQ:TRIP) Sets New 1-Year High After Earnings Beat

Shares of TripAdvisor, Inc. (NASDAQ:TRIP) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $19.26 and last traded at $19.00, with a volume of 3585456 shares trading hands. The stock had previously closed at $16.09.

The travel company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $529.00 million for the quarter, compared to the consensus estimate of $529.91 million. TripAdvisor had a net margin of 3.53% and a return on equity of 11.60%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TRIP. Mizuho raised TripAdvisor to a “hold” rating in a research note on Friday, April 18th. JPMorgan Chase & Co. raised their target price on TripAdvisor from $11.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, May 9th. Wall Street Zen cut shares of TripAdvisor from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. UBS Group lifted their target price on TripAdvisor from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Finally, Bank of America assumed coverage on TripAdvisor in a report on Monday, July 14th. They set a “neutral” rating and a $19.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.73.

Insider Activity

In other news, CEO Almir Ambeskovic sold 16,643 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.33, for a total value of $255,137.19. Following the transaction, the chief executive officer owned 15,931 shares in the company, valued at approximately $244,222.23. This represents a 51.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On TripAdvisor

Several hedge funds have recently added to or reduced their stakes in the stock. Wittenberg Investment Management Inc. boosted its holdings in shares of TripAdvisor by 80.0% in the 1st quarter. Wittenberg Investment Management Inc. now owns 126,000 shares of the travel company’s stock valued at $1,785,000 after buying an additional 56,000 shares in the last quarter. GAMMA Investing LLC lifted its position in TripAdvisor by 904.8% in the first quarter. GAMMA Investing LLC now owns 36,927 shares of the travel company’s stock valued at $523,000 after acquiring an additional 33,252 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in TripAdvisor in the first quarter valued at $235,000. Point72 Asset Management L.P. boosted its stake in TripAdvisor by 483.9% in the fourth quarter. Point72 Asset Management L.P. now owns 723,904 shares of the travel company’s stock valued at $10,692,000 after acquiring an additional 599,933 shares in the last quarter. Finally, Lightrock Netherlands B.V. grew its holdings in shares of TripAdvisor by 54.4% during the first quarter. Lightrock Netherlands B.V. now owns 791,287 shares of the travel company’s stock worth $11,231,000 after purchasing an additional 278,821 shares during the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

TripAdvisor Stock Performance

The firm has a fifty day simple moving average of $15.69 and a 200-day simple moving average of $14.94. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.88. The company has a market cap of $2.55 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 2.43 and a beta of 1.30.

TripAdvisor Company Profile

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.