SRS Investment Management LLC Has $36.21 Million Stock Holdings in Tripadvisor Inc (NASDAQ:TRIP)

SRS Investment Management LLC decreased its holdings in shares of Tripadvisor Inc (NASDAQ:TRIP) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 782,136 shares of the travel company’s stock after selling 89,069 shares during the period. Tripadvisor makes up about 0.8% of SRS Investment Management LLC’s portfolio, making the stock its 18th largest position. SRS Investment Management LLC owned approximately 0.56% of Tripadvisor worth $36,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CWM LLC grew its stake in shares of Tripadvisor by 3.2% in the 2nd quarter. CWM LLC now owns 163,649 shares of the travel company’s stock worth $7,575,000 after acquiring an additional 5,117 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Tripadvisor by 15.3% in the 1st quarter. Toronto Dominion Bank now owns 79,732 shares of the travel company’s stock worth $4,101,000 after acquiring an additional 10,568 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Tripadvisor by 2,620.5% in the 1st quarter. Victory Capital Management Inc. now owns 41,025 shares of the travel company’s stock worth $2,111,000 after acquiring an additional 39,517 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Tripadvisor in the 1st quarter worth $365,000. Finally, New York State Teachers Retirement System grew its stake in shares of Tripadvisor by 10.2% in the 1st quarter. New York State Teachers Retirement System now owns 156,400 shares of the travel company’s stock worth $8,047,000 after acquiring an additional 14,524 shares in the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.

TRIP traded down $1.13 during trading on Friday, hitting $39.16. 124,297 shares of the company traded hands, compared to its average volume of 1,683,461. The firm has a market cap of $5.77 billion, a P/E ratio of 37.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The stock’s fifty day moving average is $39.72 and its 200 day moving average is $46.41. Tripadvisor Inc has a one year low of $35.41 and a one year high of $69.00.

Tripadvisor (NASDAQ:TRIP) last posted its quarterly earnings results on Wednesday, August 7th. The travel company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.08). The company had revenue of $422.00 million for the quarter, compared to the consensus estimate of $445.46 million. Tripadvisor had a net margin of 8.49% and a return on equity of 10.63%. Tripadvisor’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. On average, research analysts anticipate that Tripadvisor Inc will post 1.24 earnings per share for the current fiscal year.

Several analysts have recently issued reports on TRIP shares. UBS Group upgraded shares of Tripadvisor from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $44.00 to $40.00 in a research note on Wednesday, September 4th. Cowen set a $39.00 target price on shares of Tripadvisor and gave the stock a “sell” rating in a research note on Friday, August 9th. Credit Suisse Group reduced their target price on shares of Tripadvisor from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. DA Davidson upgraded shares of Tripadvisor from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, June 27th. Finally, Barclays reduced their price target on shares of Tripadvisor from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Tripadvisor currently has a consensus rating of “Hold” and an average price target of $54.63.

In other Tripadvisor news, insider Dermot Halpin sold 3,409 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $40.23, for a total transaction of $137,144.07. Following the completion of the transaction, the insider now owns 752 shares in the company, valued at $30,252.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is owned by company insiders.

About Tripadvisor

TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotel and Non-Hotel. The company operates TripAdvisor-branded Websites, including tripadvisor.com in the United States; and localized versions of the Website in 48 markets and 28 languages. It also manages and operates other travel media brands that provide users the comprehensive travel-planning and trip-taking resources in the travel industry, such as airfarewatchdog.com, bookingbuddy.com, cruisecritic.com, familyvacationcritic.com, flipkey.com, thefork.com, holidaywatchdog.com, housetrip.com, jetsetter.com, niumba.com, onetime.com, oyster.com, seatguru.com, smartertravel.com, tingo.com, vacationhomerentals.com, and viator.com, as well as www.bokun.io and holidaylettings.co.uk.

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Institutional Ownership by Quarter for Tripadvisor (NASDAQ:TRIP)

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