Fred Alger Management LLC raised its holdings in Trip.com Group Limited (NASDAQ:TCOM – Free Report) by 459.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,143,012 shares of the company’s stock after purchasing an additional 2,581,231 shares during the period. Fred Alger Management LLC owned about 0.49% of Trip.com Group worth $118,397,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Trip.com Group in the fourth quarter worth approximately $213,195,000. BlackRock Inc. boosted its stake in shares of Trip.com Group by 18.1% in the first quarter. BlackRock Inc. now owns 25,456,730 shares of the company’s stock worth $588,559,000 after acquiring an additional 3,893,531 shares during the last quarter. Morgan Stanley boosted its stake in shares of Trip.com Group by 9.3% in the fourth quarter. Morgan Stanley now owns 30,375,921 shares of the company’s stock worth $1,044,932,000 after acquiring an additional 2,581,113 shares during the last quarter. WT Asset Management Ltd boosted its stake in shares of Trip.com Group by 250.6% in the first quarter. WT Asset Management Ltd now owns 2,968,585 shares of the company’s stock worth $111,827,000 after acquiring an additional 2,121,907 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Trip.com Group by 14.7% in the first quarter. FMR LLC now owns 16,307,019 shares of the company’s stock worth $614,285,000 after acquiring an additional 2,084,097 shares during the last quarter. 38.24% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on TCOM. JPMorgan Chase & Co. upgraded Trip.com Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $39.00 to $50.00 in a research report on Monday, July 31st. TheStreet lowered Trip.com Group from a “b” rating to a “c+” rating in a research note on Thursday. Mizuho upped their price target on Trip.com Group from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. China Renaissance raised Trip.com Group from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Thursday, June 8th. Finally, Citigroup increased their target price on Trip.com Group from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Trip.com Group has an average rating of “Buy” and a consensus target price of $47.85.
Trip.com Group Stock Up 0.6 %
Shares of TCOM traded up $0.21 during mid-day trading on Tuesday, reaching $36.20. The company’s stock had a trading volume of 2,081,331 shares, compared to its average volume of 4,603,450. Trip.com Group Limited has a 12-month low of $19.25 and a 12-month high of $43.59. The stock has a market cap of $23.39 billion, a PE ratio of 26.27 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 0.97. The company’s 50 day moving average is $38.22 and its 200 day moving average is $36.37.
Trip.com Group Company Profile
Trip.com Group Limited operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.
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