M&T Bank Corp Invests $298,000 in TripAdvisor, Inc. (TRIP)

M&T Bank Corp acquired a new stake in shares of TripAdvisor, Inc. (NASDAQ:TRIP) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,777 shares of the travel company’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in TripAdvisor in the first quarter valued at approximately $113,000. Nordea Investment Management AB boosted its stake in TripAdvisor by 3.5% in the first quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock valued at $198,000 after acquiring an additional 157 shares in the last quarter. KCG Holdings Inc. acquired a new stake in TripAdvisor in the first quarter valued at approximately $205,000. Raymond James Financial Services Advisors Inc. boosted its stake in TripAdvisor by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,303 shares of the travel company’s stock valued at $229,000 after acquiring an additional 377 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in TripAdvisor in the second quarter valued at approximately $242,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

TRIP has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of TripAdvisor from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Credit Suisse Group downgraded shares of TripAdvisor from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $40.00 to $34.00 in a research note on Monday, June 19th. Cowen and Company upgraded shares of TripAdvisor from an “underperform” rating to a “market perform” rating and set a $35.00 target price for the company in a research note on Wednesday, July 19th. Jefferies Group LLC downgraded shares of TripAdvisor from a “hold” rating to an “underperform” rating and lowered their target price for the company from $50.00 to $30.00 in a research note on Thursday, August 24th. Finally, Wells Fargo & Company restated a “hold” rating on shares of TripAdvisor in a research note on Thursday, July 27th. Nine research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company’s stock. TripAdvisor presently has a consensus rating of “Hold” and a consensus target price of $42.83.

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In other news, insider Dermot Halpin sold 12,859 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $39.09, for a total value of $502,658.31. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at approximately $209,678.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is currently owned by company insiders.

TripAdvisor (NASDAQ:TRIP) last released its earnings results on Tuesday, August 8th. The travel company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.05). TripAdvisor had a return on equity of 8.62% and a net margin of 6.26%. The firm had revenue of $424.00 million during the quarter, compared to analyst estimates of $421.66 million. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue was up 8.4% on a year-over-year basis.

TripAdvisor Profile

TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.

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Institutional Ownership by Quarter for TripAdvisor (NASDAQ:TRIP)

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