Empyrean Capital Partners LP Cuts Stake in Tripadvisor, Inc. (NASDAQ:TRIP)

Empyrean Capital Partners LP decreased its stake in Tripadvisor, Inc. (NASDAQ:TRIP) by 28.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the travel company’s stock after selling 100,000 shares during the period. Empyrean Capital Partners LP owned approximately 0.18% of Tripadvisor worth $4,452,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Tripadvisor by 104.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,659 shares of the travel company’s stock worth $30,000 after acquiring an additional 846 shares during the period. Quest Partners LLC lifted its position in shares of Tripadvisor by 14,244.4% during the second quarter. Quest Partners LLC now owns 2,582 shares of the travel company’s stock worth $46,000 after purchasing an additional 2,564 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Tripadvisor in the first quarter valued at $83,000. Gladius Capital Management LP acquired a new stake in Tripadvisor during the 2nd quarter valued at $79,000. Finally, SYSTM Wealth Solutions LLC increased its stake in Tripadvisor by 10.5% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 4,527 shares of the travel company’s stock worth $126,000 after buying an additional 432 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Tripadvisor Price Performance

Shares of NASDAQ:TRIP opened at $14.43 on Thursday. The company has a market cap of $2.01 billion, a PE ratio of 96.20, a P/E/G ratio of 2.19 and a beta of 1.39. Tripadvisor, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $28.76. The firm has a 50-day simple moving average of $14.99 and a 200 day simple moving average of $19.56. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.04.

Tripadvisor (NASDAQ:TRIP) last posted its earnings results on Tuesday, August 6th. The travel company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $497.00 million during the quarter, compared to analyst estimates of $504.76 million. Tripadvisor had a return on equity of 11.81% and a net margin of 1.32%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. On average, sell-side analysts anticipate that Tripadvisor, Inc. will post 0.37 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TRIP. DA Davidson decreased their price objective on shares of Tripadvisor from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Cantor Fitzgerald reissued an “underweight” rating and issued a $12.00 price target on shares of Tripadvisor in a report on Monday. TD Cowen dropped their price objective on Tripadvisor from $25.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. cut their target price on Tripadvisor from $17.00 to $14.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Finally, BMO Capital Markets decreased their price target on shares of Tripadvisor from $20.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Tripadvisor has a consensus rating of “Hold” and an average price target of $18.33.

Tripadvisor Profile

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