As of September 27, 2023, Wedge Capital Management L L P NC has seen a significant increase in its holdings of Tripadvisor, Inc. (NASDAQ: TRIP) during the second quarter of this fiscal year. According to the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC), Wedge Capital Management now owns approximately 131,253 shares of Tripadvisor’s stock, representing a growth rate of 1,025.6%. This surge in ownership came about as Wedge Capital acquired an additional 119,592 shares of the travel company’s stock during the second quarter. Based on their most recent filing with the SEC, these shares are valued at around $2,164,000.
Tripadvisor (NASDAQ: TRIP) has also recently released its quarterly earnings data, providing insights into its financial performance for the period ending August 2nd. The travel company reported earnings per share (EPS) of $0.21 for the quarter, surpassing market expectations by $0.01 as it exceeded the consensus estimate of $0.20 per share. Despite a negative net margin of 1.61%, Tripadvisor demonstrated a positive return on equity of 4.87% during this period.
In terms of revenue generation, Tripadvisor generated $494 million during the quarter under review—exceeding the consensus estimate of $474.01 million by a notable margin.
Looking ahead to the current fiscal year, analysts predict that Tripadvisor will post an EPS figure of approximately $0.42.
As an online travel company operating worldwide, TripAdvisor offers various products and services to assist travelers in finding guidance for their travel plans. The company operates through three distinct segments: Tripadvisor Core, Viator, and TheFork.
The Tripadvisor Core segment provides a platform for travelers to access and contribute authentic user-generated content such as ratings and reviews for destinations, accommodations, restaurants, cruises, points-of-interest, and experiences. By offering reliable guidance through the collection and sharing of user-generated content, Tripadvisor aims to assist travelers in making informed decisions about their travel experiences.
Viator is a segment focused on providing travelers with access to an extensive range of tours and activities around the world. Through its online platform, Viator offers travelers the opportunity to discover and book various activities tailored to their interests and preferences.
TheFork segment is primarily involved in the restaurant reservation business. Operating across multiple countries, TheFork assists diners in discovering and booking dining options while also providing restaurants with technology solutions to enhance their operations.
By diversifying its services across these three segments, Tripadvisor has positioned itself as a comprehensive travel resource for individuals seeking guidance before and during their journeys.
In conclusion, Tripadvisor has witnessed an impressive increase in ownership by Wedge Capital Management L L P NC during the second quarter of this fiscal year. Additionally, the company’s recent quarterly earnings data has shown positive financial performance, surpassing market expectations. As Tripadvisor continues to offer its distinctive travel guidance products and services worldwide through its three main segments—Tripadvisor Core, Viator, and TheFork—the company remains well-positioned to provide valuable assistance to travelers around the globe.
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Updated on: 07/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Buy
Price to book ratio: Buy
DCF: Strong Buy
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Changing Investor Base and Research Reports Influence Tripadvisor’s Market Performance and Prospects
In recent months, Tripadvisor has witnessed a series of changes in its shareholder base as various large investors have either increased or decreased their stakes in the company. Notably, Bouvel Investment Partners LLC grew its stake in Tripadvisor by 4.5% during the second quarter, now owning 82,584 shares of the travel company’s stock valued at $1,362,000. The increase in stake was achieved through the acquisition of an additional 3,523 shares.
Similarly, Hedges Asset Management LLC also saw a significant growth in its stake in Tripadvisor during the second quarter. Their stake surged by 60.0%, and they now own 20,000 shares worth $330,000 after obtaining an additional 7,500 shares.
Pacer Advisors Inc., meanwhile, raised its position in Tripadvisor to the tune of 45.2% during the second quarter and currently holds 1,522,267 shares valued at $25,102,000. This substantial increase was attained by acquiring an extra 473,951 shares.
Quent Capital LLC took a rather remarkable leap with their investment in Tripadvisor during the second quarter. They expanded their position by a staggering 15,625%, now owning 5,032 shares worth $83,000 after purchasing an additional 5,000 shares.
Furthermore,, SG Americas Securities LLC lifted its position in Tripadvisor by 14% during the second quarter. They currently hold 20,949 shares worth $345,000 after purchasing an additional 2,566 shares.
Overall results indicate that approximately 74.17% of Tripadvisor’s stock is owned by institutional investors who have demonstrated an active interest and belief in the company’s potential for growth.
Looking at the market performance of TRIP stock on Wednesday – September 27th – it opened at $15.67 per share. The firm’s fifty-day moving average stands at $16.14, while the 200-day moving average rests at $16.87.
Research reports have also played a significant role in shaping the market perception of Tripadvisor. Credit Suisse Group, for instance, recently reduced their target price on TRIP shares from $26.00 to $20.00 and assigned a “neutral” rating to the stock.
On the other hand, StockNews.com initiated coverage on Tripadvisor and gave it a “buy” rating in their research report released on August 17th. Meanwhile, Jefferies Financial Group upped their target price from $14.00 to $15.00 and provided an “underperform” rating for the stock.
Truist Financial joined Credit Suisse Group in reducing their target price on TRIP shares; dropping it down from $18.00 to $17.00 and assigning a “hold” rating in their research report released on September 15th.
Lastly, Wedbush initiated coverage on Tripadvisor as well and gave it a “neutral” rating with a target price of $17.00 in their research report released on August 21st.
Presently, according to data from Bloomberg, three equities research analysts have rated the stock as a sell, eight have issued a hold rating, while three have assigned a buy rating to Tripadvisor shares.
The company’s average rating comes out as “Hold,” with an average target price of $20.67 according to the same data source.
In conclusion, these recent developments revolving around large investors altering stakes and various research reports emphasizing both positive and negative aspects of Tripadvisor have contributed to an environment of uncertainty within the travel company’s market performance and long-term prospects.