Van ECK Associates Corp Increases Holdings in Tripadvisor, Inc. (NASDAQ:TRIP)

Posted by on Aug 8th, 2023

Van ECK Associates Corp increased its stake in Tripadvisor, Inc. (NASDAQ:TRIP – Free Report) by 73.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,631 shares of the travel company’s stock after purchasing an additional 6,631 shares during the quarter. Van ECK Associates Corp’s holdings in Tripadvisor were worth $310,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in shares of Tripadvisor by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 12,368 shares of the travel company’s stock valued at $335,000 after purchasing an additional 466 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Tripadvisor by 1.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the travel company’s stock valued at $797,000 after buying an additional 560 shares during the period. Public Employees Retirement System of Ohio grew its position in Tripadvisor by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 57,250 shares of the travel company’s stock worth $1,264,000 after buying an additional 570 shares in the last quarter. Yousif Capital Management LLC increased its stake in Tripadvisor by 1.2% in the 1st quarter. Yousif Capital Management LLC now owns 52,496 shares of the travel company’s stock worth $1,424,000 after acquiring an additional 605 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in shares of Tripadvisor by 2.3% in the 4th quarter. Pinebridge Investments L.P. now owns 27,818 shares of the travel company’s stock valued at $500,000 after acquiring an additional 620 shares in the last quarter. 70.18% of the stock is currently owned by hedge funds and other institutional investors.

Tripadvisor Stock Performance

Shares of NASDAQ:TRIP opened at $16.09 on Tuesday. The stock’s 50-day moving average is $16.84 and its 200 day moving average is $18.67. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.73 and a current ratio of 1.73. Tripadvisor, Inc. has a 1 year low of $14.39 and a 1 year high of $28.05.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Tripadvisor from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Friday. Citigroup dropped their price target on Tripadvisor from $21.00 to $18.00 in a research note on Thursday, June 22nd. TheStreet cut Tripadvisor from a “c-” rating to a “d+” rating in a report on Tuesday, May 23rd. B. Riley began coverage on Tripadvisor in a research note on Thursday, June 22nd. They issued a “buy” rating and a $25.00 target price for the company. Finally, Credit Suisse Group decreased their price target on shares of Tripadvisor from $26.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.60.

Get Our Latest Stock Analysis on Tripadvisor

Tripadvisor Profile

(Free Report)

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: Tripadvisor Core, Viator, and TheFork. The Tripadvisor Core 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.

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Institutional Ownership by Quarter for Tripadvisor (NASDAQ:TRIP)

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