market folly

Robert Pitts Jr.'s hedge fund firm Steadfast Capital has filed a 13G with the SEC regarding shares of Trivago (TRVG).  Per the filing, Steadfast now owns 5.4% of the company with over 1.60 million shares.

This is an increase of over 1.05 million shares since the end of the first quarter when they owned 550,074 shares.  The filing was made due to activity on June 14th.

We've previously highlighted how Foxhaven Asset Management has also built a Trivago stake. 

Per Google Finance, Trivago "operates an online hotel search platform. The platform allows users to search for, compare and book hotels. It gathers information from various third parties' platforms and provides information about the hotel, pictures, ratings, reviews and filters, such as price, location and extra options. The Company offers access to approximately 1.3 million hotels in over 190 countries via more than 50 localized websites and applications in various languages. The Company also offers marketing tools and services to hotels and hotel chains, as well as to online travel agencies and advertisers, among others. Its principal executive offices are located in Germany."