TripAdvisor (NASDAQ:TRIP) Stock Crosses Above 50-Day Moving Average – Here’s Why

TripAdvisor, Inc. (NASDAQ:TRIP)’s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.09 and traded as high as $9.27. TripAdvisor shares last traded at $9.22, with a volume of 2,589,840 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of TripAdvisor from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 price target on shares of TripAdvisor in a report on Monday, July 20th. BTIG Research cut TripAdvisor from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald cut their price objective on TripAdvisor from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Finally, B. Riley Financial reduced their price objective on TripAdvisor from $13.00 to $12.50 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $14.04.

TripAdvisor Trading Up 3.1%

The business’s fifty day moving average is $9.09 and its 200-day moving average is $11.07. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $1.08 billion, a P/E ratio of 922.92, a price-to-earnings-growth ratio of 3.60 and a beta of 0.86.

TripAdvisor (NASDAQ:TRIP) last posted its earnings results on Thursday, August 6th. The travel company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). TripAdvisor had a return on equity of 4.23% and a net margin of 0.28%. The business had revenue of $385.30 million for the quarter, compared to the consensus estimate of $506.27 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was down 7.2% compared to the same quarter last year. Analysts predict that TripAdvisor, Inc. will post 0.34 EPS for the current year.

Insider Activity at TripAdvisor

In related news, CEO Almir Ambeskovic sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $9.45, for a total value of $75,600.00. Following the sale, the chief executive officer owned 30,456 shares of the company’s stock, valued at $287,809.20. The trade was a 20.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRIP. Hennessy Advisors Inc. grew its position in shares of TripAdvisor by 108.9% in the 3rd quarter. Hennessy Advisors Inc. now owns 23,062 shares of the travel company’s stock valued at $193,000 after buying an additional 12,021 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of TripAdvisor by 73.5% in the third quarter. Verdence Capital Advisors LLC now owns 58,634 shares of the travel company’s stock valued at $491,000 after buying an additional 24,836 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of TripAdvisor in the third quarter valued at about $86,000. Sterling Capital Management LLC raised its position in shares of TripAdvisor by 128.4% during the third quarter. Sterling Capital Management LLC now owns 3,026 shares of the travel company’s stock worth $25,000 after acquiring an additional 1,701 shares during the last quarter. Finally, U S Global Investors Inc. raised its position in shares of TripAdvisor by 32.0% during the third quarter. U S Global Investors Inc. now owns 1,840,229 shares of the travel company’s stock worth $15,403,000 after acquiring an additional 446,255 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

About TripAdvisor

Tripadvisor, Inc (NASDAQ: TRIP) operates a global travel guidance and experiences platform. Its flagship Tripadvisor brand provides user-generated reviews, ratings, photos and travel information covering hotels, restaurants, attractions and destinations, helping travelers research and plan trips.

The company also operates Viator, an online marketplace for tours, activities and other travel experiences, and TheFork, a digital restaurant reservation platform serving diners and restaurants.