Tuniu Corp (NASDAQ:TOUR) traded up 12.2% during trading on Monday . The company traded as high as $8.85 and last traded at $8.54. 851,200 shares were traded during mid-day trading, an increase of 226% from the average session volume of 260,856 shares. The stock had previously closed at $7.61.
Several equities research analysts recently commented on the company. BidaskClub cut Tuniu from a “sell” rating to a “strong sell” rating in a research report on Friday, January 5th. Credit Suisse Group assumed coverage on Tuniu in a research report on Tuesday, October 10th. They set an “outperform” rating and a $11.00 price objective on the stock.
The firm has a market cap of $1,080.69, a PE ratio of -6.42 and a beta of 1.45.
Tuniu announced that its board has approved a stock repurchase plan on Friday, January 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in TOUR. Stevens Capital Management LP boosted its position in shares of Tuniu by 1.3% during the second quarter. Stevens Capital Management LP now owns 14,559 shares of the technology company’s stock valued at $117,000 after buying an additional 183 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in shares of Tuniu during the third quarter valued at $129,000. Profund Advisors LLC boosted its position in Tuniu by 40.7% in the second quarter. Profund Advisors LLC now owns 16,748 shares of the technology company’s stock worth $134,000 after purchasing an additional 4,848 shares during the last quarter. PEAK6 Investments L.P. purchased a new position in Tuniu in the third quarter worth about $156,000. Finally, Susquehanna International Group LLP boosted its position in Tuniu by 205.4% in the third quarter. Susquehanna International Group LLP now owns 29,934 shares of the technology company’s stock worth $234,000 after purchasing an additional 58,334 shares during the last quarter.
Tuniu Company Profile
Tuniu Corporation is an online leisure travel company. The Company offers a selection of packaged tours, including organized tours and self-guided tours, as well as travel-related services for leisure travelers. Its online platform, which consists of its tuniu.com Website and mobile platform, provides product and travel information to enable leisure travelers to plan their travels.
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