Sumitomo Mitsui Asset Management Company LTD Has $25.93 Million Stake in Tripadvisor Inc (TRIP)

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Sumitomo Mitsui Asset Management Company LTD cut its position in Tripadvisor Inc (NASDAQ:TRIP) by 19.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 503,890 shares of the travel company’s stock after selling 119,990 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Tripadvisor were worth $25,925,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Raymond James & Associates grew its holdings in Tripadvisor by 5.1% during the 1st quarter. Raymond James & Associates now owns 38,871 shares of the travel company’s stock worth $2,000,000 after acquiring an additional 1,870 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Tripadvisor during the 1st quarter worth approximately $240,000. CIBC Asset Management Inc grew its holdings in Tripadvisor by 4.9% during the 1st quarter. CIBC Asset Management Inc now owns 11,627 shares of the travel company’s stock worth $598,000 after acquiring an additional 538 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Tripadvisor during the 1st quarter worth approximately $8,000,000. Finally, Toronto Dominion Bank grew its holdings in Tripadvisor by 15.3% during 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 during the last quarter. Institutional investors own 89.29% of the company’s stock.

Shares of NASDAQ TRIP traded up $0.39 during midday trading on Wednesday, reaching $47.39. The stock had a trading volume of 42,143 shares, compared to its average volume of 2,248,956. The company has a market capitalization of $6.35 billion, a P/E ratio of 44.26, a price-to-earnings-growth ratio of 2.81 and a beta of 1.29. Tripadvisor Inc has a twelve month low of $43.40 and a twelve month high of $69.00.

Tripadvisor (NASDAQ:TRIP) last issued its quarterly earnings results on Tuesday, May 7th. The travel company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $376.00 million for the quarter, compared to the consensus estimate of $387.27 million. Tripadvisor had a net margin of 8.31% and a return on equity of 10.24%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS. On average, sell-side analysts expect that Tripadvisor Inc will post 1.31 earnings per share for the current year.

In other news, insider Dermot Halpin sold 17,655 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $56.69, for a total value of $1,000,861.95. Following the transaction, the insider now owns 21,791 shares in the company, valued at approximately $1,235,331.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seth J. Kalvert sold 11,016 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $51.93, for a total transaction of $572,060.88. The disclosure for this sale can be found here. Insiders sold a total of 62,114 shares of company stock worth $3,384,884 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

A number of equities research analysts have weighed in on TRIP shares. Cowen lowered shares of Tripadvisor from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $50.00 to $40.00 in a report on Wednesday, March 6th. Stifel Nicolaus reissued a “hold” rating and set a $57.00 target price on shares of Tripadvisor in a report on Monday, April 29th. BidaskClub raised shares of Tripadvisor from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. ValuEngine lowered shares of Tripadvisor from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, SunTrust Banks reduced their target price on shares of Tripadvisor to $60.00 and set a “hold” rating on the stock in a report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $56.40.

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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.

Further Reading: Dividend

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Institutional Ownership by Quarter for Tripadvisor (NASDAQ:TRIP)

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