Invenomic Capital Management LP Sells 343,776 Shares of Tripadvisor, Inc. (NASDAQ:TRIP)

Invenomic Capital Management LP reduced its position in shares of Tripadvisor, Inc. (NASDAQ:TRIP) by 40.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 506,484 shares of the travel company’s stock after selling 343,776 shares during the quarter. Invenomic Capital Management LP’s holdings in Tripadvisor were worth $14,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRIP. International Assets Investment Management LLC increased its position in Tripadvisor by 2,053.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,153 shares of the travel company’s stock valued at $46,000 after purchasing an additional 2,053 shares during the period. Quadrant Capital Group LLC increased its position in Tripadvisor by 52.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,497 shares of the travel company’s stock valued at $54,000 after purchasing an additional 861 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Tripadvisor during the 1st quarter valued at $83,000. Tower Research Capital LLC TRC increased its position in Tripadvisor by 46.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,158 shares of the travel company’s stock valued at $111,000 after purchasing an additional 1,641 shares during the period. Finally, SYSTM Wealth Solutions LLC increased its position in Tripadvisor by 10.5% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 4,527 shares of the travel company’s stock valued at $126,000 after purchasing an additional 432 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Tripadvisor Price Performance

Shares of TRIP stock traded up $0.05 on Tuesday, reaching $18.02. The company’s stock had a trading volume of 914,101 shares, compared to its average volume of 2,394,169. The stock’s fifty day simple moving average is $17.93 and its 200-day simple moving average is $22.29. Tripadvisor, Inc. has a 1 year low of $14.15 and a 1 year high of $28.76. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 120.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.42.

Tripadvisor (NASDAQ:TRIP) last posted its earnings results on Wednesday, May 8th. The travel company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Tripadvisor had a net margin of 1.32% and a return on equity of 12.03%. The firm had revenue of $395.00 million during the quarter, compared to analyst estimates of $390.93 million. Analysts forecast that Tripadvisor, Inc. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRIP shares. Wedbush reissued a “neutral” rating and set a $21.00 price objective on shares of Tripadvisor in a research report on Friday, May 24th. BMO Capital Markets reduced their price objective on shares of Tripadvisor from $23.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Barclays reduced their price objective on shares of Tripadvisor from $20.00 to $15.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. The Goldman Sachs Group cut their price objective on shares of Tripadvisor from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Tripadvisor from $25.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.19.

Tripadvisor 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.