Virginia Retirement Systems ET AL Makes New Investment in Tripadvisor, Inc. (NASDAQ:TRIP)

Virginia Retirement Systems ET AL acquired a new position in shares of Tripadvisor, Inc. (NASDAQ:TRIP – Get Rating) during the first quarter, Holdings Channel reports. The fund acquired 8,600 shares of the travel company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its holdings in Tripadvisor by 1.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the travel company’s stock worth $695,000 after acquiring an additional 400 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Tripadvisor by 1.6% during the 4th quarter. State of Michigan Retirement System now owns 25,101 shares of the travel company’s stock worth $684,000 after acquiring an additional 400 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Tripadvisor by 4.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 11,902 shares of the travel company’s stock worth $324,000 after buying an additional 478 shares during the last quarter. CHICAGO TRUST Co NA boosted its holdings in shares of Tripadvisor by 6.3% in the 1st quarter. CHICAGO TRUST Co NA now owns 9,771 shares of the travel company’s stock worth $265,000 after buying an additional 576 shares during the last quarter. Finally, Palisade Capital Management LLC NJ boosted its holdings in shares of Tripadvisor by 10.6% in the 4th quarter. Palisade Capital Management LLC NJ now owns 7,850 shares of the travel company’s stock worth $214,000 after buying an additional 750 shares during the last quarter. 82.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on TRIP. Citigroup cut their price target on shares of Tripadvisor from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, May 9th. StockNews.com began coverage on shares of Tripadvisor in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Ascendiant Capital Markets set a $36.00 price target on shares of Tripadvisor in a report on Monday, June 20th. Truist Financial cut their price target on shares of Tripadvisor from $57.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Tripadvisor from $23.00 to $15.00 and set an “underweight” rating on the stock in a report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.22.

NASDAQ TRIP opened at $17.62 on Tuesday. The company has a market cap of $2.46 billion, a PE ratio of -24.14 and a beta of 1.46. Tripadvisor, Inc. has a 52 week low of $17.33 and a 52 week high of $39.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.17. The firm’s 50-day simple moving average is $21.88 and its two-hundred day simple moving average is $24.94.

Tripadvisor (NASDAQ:TRIP – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The travel company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.03. Tripadvisor had a negative return on equity of 12.01% and a negative net margin of 9.80%. The firm had revenue of $262.00 million for the quarter, compared to analysts’ expectations of $249.70 million. During the same period in the prior year, the business posted ($0.56) earnings per share. The company’s revenue was up 113.0% on a year-over-year basis. As a group, equities research analysts anticipate that Tripadvisor, Inc. will post 0.35 EPS for the current year.

About Tripadvisor (Get Rating)

TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotels, Media & Platform; and Experiences & Dining. The company operates TripAdvisor-branded websites, including tripadvisor.com in the United States; and localized versions of the website in 40 markets and 20 languages.

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