ABC Arbitrage SA Buys New Position in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM)

Key Points

• ABC Arbitrage SA has acquired 13,582 shares of Trip.com Group Limited, valued at approximately $864,000, during the first quarter, indicating institutional investment interest.
• Recent upgrades from analysts have led to a price target increase for Trip.com Group, with Bank of America raising it from $68.00 to $70.00, and TD Securities from $67.00 to $73.00, resulting in several brokerages now rating the stock as a "buy."
• Trip.com Group's stock opened at $61.17 and has experienced volatility, with a 52-week range between $40.71 and $77.18, reflecting its market performance and investor sentiment.

ABC Arbitrage SA bought a new stake in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,582 shares of the company's stock, valued at approximately $864,000.

A number of other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Trip.com Group by 1,609.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,920,955 shares of the company's stock valued at $821,514,000 after buying an additional 12,165,176 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Trip.com Group by 1,925.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,986,561 shares of the company's stock valued at $205,057,000 after buying an additional 2,839,142 shares during the last quarter. Voya Investment Management LLC increased its position in Trip.com Group by 751.8% during the 4th quarter. Voya Investment Management LLC now owns 2,106,740 shares of the company's stock worth $144,649,000 after purchasing an additional 1,859,401 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Trip.com Group by 16,640.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,431,336 shares of the company's stock worth $98,277,000 after buying an additional 1,422,786 shares in the last quarter. Finally, FIL Ltd raised its holdings in Trip.com Group by 8.8% in the 4th quarter. FIL Ltd now owns 8,453,025 shares of the company's stock valued at $580,385,000 after acquiring an additional 684,364 shares during the last quarter. Hedge funds and other institutional investors own 35.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TCOM shares. Mizuho raised shares of Trip.com Group to a "strong-buy" rating in a research report on Friday, May 2nd. Bank of America increased their price objective on shares of Trip.com Group from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Benchmark reaffirmed a "buy" rating and set a $80.00 target price on shares of Trip.com Group in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of Trip.com Group from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, TD Securities increased their target price on Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $77.25.

Trip.com Group Stock Performance

Shares of TCOM stock traded up $0.26 during trading hours on Thursday, reaching $62.16. The stock had a trading volume of 1,854,966 shares, compared to its average volume of 2,139,712. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a 50-day simple moving average of $61.14 and a 200-day simple moving average of $62.22. The firm has a market capitalization of $40.61 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.97 and a beta of 0.06. Trip.com Group Limited Sponsored ADR has a twelve month low of $40.71 and a twelve month high of $77.18.

Trip.com Group Profile

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.