Jul. 3 at 6:55 PM
$EXPE $TRIP $ABNB $BKNG Starboard Stake Boosts TRIP, Lifts Travel Stocks
Shares of TRIP surged +16.7% after activist investor Starboard Value disclosed a 9% stake (~10.6M shares, ~$ 159M). The move also lifted peers:
EXPE +3.2% (best day in 2 months)
ABNB +0.8%
BKNG +0.3%
At a
$2.3B market cap, Tripadvisor is far smaller than EXPE (
$22.6B), ABNB (
$85.9B), or BKNG (
$186.7B), but trades at a cheaper P/S ratio (1.1 vs. 1.5, 6.8, and 7.0 respectively).
Starboard’s position was built in Q2 at an avg. price of
$13.36—well below past buyout offers (
$18–
$30). This continues Starboard’s activist trend, which includes ORCL, PFE, CRM, KVUE, and ADSK.
