Tripadvisor (TRIP)’s Performance Disappointed Baron Funds

Baron Funds, an asset management company, released its “Baron Asset Fund” investor letter. You can download a copy of the same here. In the second quarter, the fund fell 21.09%. However, the firm believes that the fund is positioned to perform well in the current market concerns of recession and inflation. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like Tripadvisor, Inc. (NASDAQ:TRIP). Headquartered in Needham, Massachusetts, Tripadvisor, Inc. (NASDAQ:TRIP) is an online travel company. On August 29, 2022, Tripadvisor, Inc. (NASDAQ:TRIP) stock closed at $24.58 per share. One-month return of Tripadvisor, Inc. (NASDAQ:TRIP) was 26.51% and its shares lost 29.77% of their value over the last 52 weeks. Tripadvisor, Inc. (NASDAQ:TRIP) has a market capitalization of $3.437 billion.

Here is what Baron Funds specifically said about Tripadvisor, Inc. (NASDAQ:TRIP):

We exited several positions during the quarter. We sold Tripadvisor, Inc. (NASDAQ:TRIP), a website containing travel-related information and reviews. We believed that the company had a significant opportunity to sell high-margin subscription-based products, and we were disappointed by continued delays in their introduction to the market.”

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Tripadvisor, Inc. (NASDAQ:TRIP) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Tripadvisor, Inc. (NASDAQ:TRIP) was held by 29 hedge fund portfolios at the end of the second quarter compared to 30 in the previous quarter.

We discussed Tripadvisor, Inc. (NASDAQ:TRIP) in another article and shared Baron Funds’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.