The Manufacturers Life Insurance Company Reduces Position in Tripadvisor, Inc. (NASDAQ:TRIP)

The Manufacturers Life Insurance Company cut its position in Tripadvisor, Inc. (NASDAQ:TRIP) by 49.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,605 shares of the travel company’s stock after selling 21,837 shares during the period. The Manufacturers Life Insurance Company’s holdings in Tripadvisor were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Acadian Asset Management LLC raised its position in Tripadvisor by 589.5% during the 1st quarter. Acadian Asset Management LLC now owns 34,946 shares of the travel company’s stock worth $970,000 after buying an additional 29,878 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Tripadvisor in the first quarter worth approximately $4,638,000. Boston Partners acquired a new position in Tripadvisor during the first quarter valued at approximately $131,887,000. DekaBank Deutsche Girozentrale lifted its position in Tripadvisor by 9,356.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 195,467 shares of the travel company’s stock valued at $5,477,000 after buying an additional 193,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Tripadvisor by 406.7% during the second quarter. Assenagon Asset Management S.A. now owns 736,625 shares of the travel company’s stock valued at $13,119,000 after buying an additional 591,251 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Tripadvisor Stock Up 0.5 %

Shares of Tripadvisor stock opened at $15.05 on Thursday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 100.33, a PEG ratio of 2.21 and a beta of 1.39. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $14.22 and a two-hundred day moving average price of $18.19. Tripadvisor, Inc. has a 12-month low of $12.93 and a 12-month high of $28.76.

Tripadvisor (NASDAQ:TRIP) last issued its quarterly earnings results on Tuesday, August 6th. The travel company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Tripadvisor had a return on equity of 11.81% and a net margin of 1.32%. The company had revenue of $497.00 million during the quarter, compared to analyst estimates of $504.76 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts expect that Tripadvisor, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of Tripadvisor from $25.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. B. Riley downgraded shares of Tripadvisor from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $19.00 in a report on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on shares of Tripadvisor from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Tripadvisor from $17.00 to $14.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Finally, BMO Capital Markets dropped their price target on shares of Tripadvisor from $20.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tripadvisor presently has an average rating of “Hold” and a consensus price target of $18.33.

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.