Credit Suisse Group Downgrades Tuniu (TOUR) to Neutral

Tuniu (NASDAQ:TOUR) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, March 14th, Marketbeat reports.

Separately, BidaskClub raised Tuniu from a “strong sell” rating to a “sell” rating in a report on Friday, February 23rd.

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Tuniu stock traded down $0.07 during trading hours on Wednesday, hitting $6.20. The stock had a trading volume of 198,822 shares, compared to its average volume of 289,376. Tuniu has a 1-year low of $5.81 and a 1-year high of $9.88.

Tuniu (NASDAQ:TOUR) last posted its earnings results on Wednesday, March 14th. The technology company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.06. The company had revenue of $72.22 million for the quarter. Tuniu had a negative return on equity of 13.68% and a negative net margin of 34.94%.

Tuniu announced that its Board of Directors has initiated a stock buyback plan on Friday, January 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Several large investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in shares of Tuniu by 147.3% in the fourth quarter. Millennium Management LLC now owns 764,955 shares of the technology company’s stock valued at $5,867,000 after acquiring an additional 455,645 shares in the last quarter. Yiheng Capital LLC lifted its position in shares of Tuniu by 14.0% in the fourth quarter. Yiheng Capital LLC now owns 2,295,332 shares of the technology company’s stock valued at $17,605,000 after acquiring an additional 281,558 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tuniu by 17.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 421,971 shares of the technology company’s stock valued at $3,237,000 after acquiring an additional 62,790 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Tuniu by 105.2% in the fourth quarter. Deutsche Bank AG now owns 303,029 shares of the technology company’s stock valued at $2,324,000 after acquiring an additional 155,340 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Tuniu in the fourth quarter valued at $303,000.

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Tuniu Company Profile

Tuniu Corporation operates as an online leisure travel company in China. The company offers a selection of packaged tours, including organized and self-guided tours; and other travel-related services, such as tourist attraction tickets selling, visa processing, financial, hotel booking, and air ticketing services for leisure travelers.

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