Travel Sites Active as Lone Pine Takes Bigger Stake in TripAdvisor (TRIP)

Travel websites are seeing some upside Wednesday afternoon following one noted hedge fund man making a larger bet on the sector.

According to a 13D filed with the U.S. SEC today, Lone Pine Capital's Stephen Mandel increased its stake in TripAdvisor (Nasdaq: TRIP) from 5.75 million shares to roughly 6.52 million, or just over five percent. Prior to the recent quarter, Mandel didn't have a stake in TripAdvisor

Headquartered in Massachusetts, TripAdvisor "operates as an online travel research company, empowering users to plan and have the perfect trip," according to the company's description.

TripAdvisor shares are still negative on the session, but well off session lows. Peers like Expedia (Nasdaq: EXPE), Priceline (Nasdaq: PCLN), and Orbitz (NYSE: OWW) also saw some movement on the disclosure.

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