20,000 Shares in Trip.com Group Limited Sponsored ADR $TCOM Acquired by Pinnacle Investment Management Ltd

Key Points

• Pinnacle Investment Management Ltd has acquired 20,000 shares of Trip.com Group Limited (NASDAQ: TCOM) valued at approximately $1.27 million, making it the second-largest position in their portfolio.
• Several large investors, including Strs Ohio and Goldman Sachs Group Inc., have significantly increased their stakes in Trip.com Group during the first quarter, highlighting strong institutional interest in the stock.
• Trip.com Group has received a number of positive analyst ratings recently, with a majority indicating a "Buy" or "Strong Buy" rating, and an average price target of $76.98.

Pinnacle Investment Management Ltd acquired a new position in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,000 shares of the company's stock, valued at approximately $1,272,000. Trip.com Group makes up 13.7% of Pinnacle Investment Management Ltd's portfolio, making the stock its 2nd biggest position.

Several other large investors have also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Trip.com Group during the 1st quarter worth approximately $8,191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Trip.com Group by 332.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,088 shares of the company's stock valued at $2,549,000 after purchasing an additional 30,819 shares in the last quarter. Caxton Associates LLP acquired a new position in Trip.com Group during the 1st quarter valued at approximately $400,000. Goldman Sachs Group Inc. increased its stake in Trip.com Group by 97.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,471,349 shares of the company's stock valued at $93,548,000 after purchasing an additional 725,132 shares in the last quarter. Finally, Temasek Holdings Private Ltd acquired a new position in Trip.com Group during the 1st quarter valued at approximately $54,568,000. Institutional investors own 35.41% of the company's stock.

Wall Street Analyst Weigh In

TCOM has been the topic of a number of recent analyst reports. Bank of America upped their price target on shares of Trip.com Group from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Zacks Research upgraded shares of Trip.com Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Sanford C. Bernstein upped their price target on shares of Trip.com Group from $75.00 to $78.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Mizuho lifted their target price on Trip.com Group from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Finally, Benchmark reaffirmed a "buy" rating and set a $80.00 target price on shares of Trip.com Group in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to data from MarketBeat, Trip.com Group presently has an average rating of "Buy" and an average target price of $76.98.

Trip.com Group Stock Up 3.2%

NASDAQ:TCOM opened at $74.83 on Friday. The firm has a market capitalization of $48.88 billion, a P/E ratio of 20.50, a PEG ratio of 2.99 and a beta of 0.03. Trip.com Group Limited Sponsored ADR has a 1-year low of $46.20 and a 1-year high of $77.18. The company's fifty day moving average price is $64.80 and its 200-day moving average price is $61.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.33 and a quick ratio of 1.33.

About Trip.com Group

Trip.com Group Limited, through its subsidiaries, 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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