ARGA Investment Management LP reduced its position in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 55.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,901,925 shares of the company's stock after selling 3,625,279 shares during the quarter. Trip.com Group comprises approximately 2.9% of ARGA Investment Management LP's holdings, making the stock its 10th largest holding. ARGA Investment Management LP owned 0.45% of Trip.com Group worth $113,465,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of Trip.com Group by 24.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock valued at $56,000 after purchasing an additional 218 shares during the last quarter. First Horizon Corp lifted its stake in shares of Trip.com Group by 69.3% during the 1st quarter. First Horizon Corp now owns 611 shares of the company's stock worth $30,000 after acquiring an additional 250 shares during the last quarter. Corient Private Wealth LP grew its position in Trip.com Group by 3.2% in the 2nd quarter. Corient Private Wealth LP now owns 10,312 shares of the company's stock valued at $411,000 after acquiring an additional 319 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Trip.com Group by 4.6% during the first quarter. NewEdge Advisors LLC now owns 7,259 shares of the company's stock valued at $361,000 after purchasing an additional 321 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Trip.com Group by 7.5% during the first quarter. Parallel Advisors LLC now owns 6,195 shares of the company's stock valued at $308,000 after purchasing an additional 433 shares during the period. 35.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on TCOM shares. Citigroup reduced their price target on shares of Trip.com Group from $64.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of Trip.com Group from $72.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, September 17th. Weiss Ratings downgraded shares of Trip.com Group from a "hold (c-)" rating to a "sell (d)" rating in a research note on Wednesday, September 16th. Bank of America reaffirmed a "buy" rating on shares of Trip.com Group in a research report on Wednesday, July 29th. Finally, TD Cowen upgraded Trip.com Group to a "strong-buy" rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.45.
Read Our Latest Stock Report on TCOM
Trip.com Group Price Performance
Trip.com Group stock opened at $41.38 on Wednesday. Trip.com Group Limited Sponsored ADR has a 1-year low of $37.58 and a 1-year high of $78.99. The business has a fifty day moving average price of $40.29 and a 200-day moving average price of $47.76. The stock has a market capitalization of $26.88 billion and a price-to-earnings ratio of 6.91.
Trip.com Group (NASDAQ:TCOM - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $1.07 earnings per share for the quarter. Trip.com Group had a return on equity of 16.99% and a net margin of 36.07%. The business had revenue of $2.31 billion during the quarter. On average, equities research analysts anticipate that Trip.com Group Limited Sponsored ADR will post 3.07 earnings per share for the current fiscal year.
About Trip.com Group
(
Free Report)
Trip.com Group Limited NASDAQ: TCOM is a global online travel services company headquartered in China. Founded in 1999 as Ctrip, the company changed its name to Trip.com Group in 2019 to reflect its expanding international operations and portfolio of travel brands.
The company operates online platforms that help travelers research, plan and book trips. Its services include hotel and accommodation reservations, airline and train ticketing, vacation packages, attraction tickets, car rentals and other travel-related products.
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