Tripadvisor Inc (TRIP) Sinks On Earnings Miss: Hedge Funds Saw This Nightmare Trip Coming

How have hedgies been trading Tripadvisor Inc (NASDAQ:TRIP)?

Of the funds tracked by Insider Monkey, Ricky Sandler‘s Eminence Capital had the number one position in Tripadvisor Inc (NASDAQ:TRIP), with around 2.45 million shares worth close to $203.4 million, comprising 3.1% of its total 13F portfolio by the end of March. The second-largest stake was held by Paul Reeder and Edward Shapiro of PAR Capital Management, with around 2.1 million shares valued at $174.2 million; 4% of its 13F portfolio was allocated to the stock. Some of the remaining peers that hold long positions contain David Goel and Paul Ferri’s Matrix Capital Management, Panayotis Takis Sparaggis’s Alkeon Capital Management, and Christopher Lord’s Criterion Capital.

Due to the fact that Tripadvisor Inc (NASDAQ:TRIP) has witnessed bearish sentiment from hedge fund managers, we can see that there was a specific group of fund managers that slashed their entire stakes in the first quarter. Interestingly, Eashwar Krishnan‘s Tybourne Capital Management dropped the largest investment in the stock of the funds tracked by Insider Monkey, by selling all of its 1.17 million shares during the first three months of the year. Patrick McCormack‘s fund, Tiger Consumer Management, also walked out of the stock by selling all 808,829 shares it had previously held.

Hedge funds displayed bearish sentiment on Tripadvisor Inc (NASDAQ:TRIP), as many hedge funds opted to walk out of the stock during the first trimester and many others opted to pull some of their investment out of the stock. Considering the company’s second quarter earnings miss and subsequent 13% drop on Friday coupled with the bearish hedge fund sentiment, we don’t recommend buying this stock at the moment.

Disclosure: None