Wallace Capital Management Inc. Sells 18,129 Shares of Tripadvisor, Inc. (NASDAQ:TRIP)

Wallace Capital Management Inc. lowered its stake in Tripadvisor, Inc. (NASDAQ:TRIP) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 562,783 shares of the travel company’s stock after selling 18,129 shares during the period. Tripadvisor accounts for about 1.3% of Wallace Capital Management Inc.’s holdings, making the stock its 18th biggest holding. Wallace Capital Management Inc.’s holdings in Tripadvisor were worth $10,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in Tripadvisor by 589.5% in the 1st quarter. Acadian Asset Management LLC now owns 34,946 shares of the travel company’s stock valued at $970,000 after acquiring an additional 29,878 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Tripadvisor in the first quarter valued at about $4,638,000. Boston Partners acquired a new position in shares of Tripadvisor during the first quarter worth about $131,887,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Tripadvisor by 9,356.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 195,467 shares of the travel company’s stock worth $5,477,000 after buying an additional 193,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Tripadvisor by 406.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 736,625 shares of the travel company’s stock valued at $13,119,000 after buying an additional 591,251 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analysts Set New Price Targets

TRIP has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $12.00 price target on shares of Tripadvisor in a research report on Monday, September 23rd. BMO Capital Markets reduced their target price on shares of Tripadvisor from $20.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on shares of Tripadvisor from $17.00 to $14.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price target on shares of Tripadvisor from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and issued a $21.00 price objective on shares of Tripadvisor in a 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 given a buy rating to the stock. According to MarketBeat.com, Tripadvisor presently has a consensus rating of “Hold” and a consensus target price of $18.33.

Tripadvisor Price Performance

NASDAQ:TRIP opened at $14.77 on Monday. The company has a market cap of $2.05 billion, a P/E ratio of 98.47, a P/E/G ratio of 2.23 and a beta of 1.39. The firm’s fifty day moving average price is $14.87 and its two-hundred day moving average price is $19.34. Tripadvisor, Inc. has a one year low of $12.93 and a one year high of $28.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.68 and a quick ratio of 1.68.

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

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.