Acadian Asset Management LLC Sells 962,286 Shares of Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• Acadian Asset Management LLC reduced its holdings in Trip.com Group by 88.2% during the first quarter, selling 962,286 shares and bringing its ownership down to 128,163 shares, valued at approximately $8.15 million.
• Several institutional investors have adjusted their stakes in Trip.com Group, with notable increases including Principal Financial Group and LPL Financial LLC raising their shares by 4.1% and 219.7%, respectively.
• Analysts are optimistic about Trip.com Group, as banks have raised their price targets, with a consensus target price of $76.98 and a general rating of Buy from equities research analysts.

Acadian Asset Management LLC trimmed its holdings in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 88.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,163 shares of the company's stock after selling 962,286 shares during the quarter. Acadian Asset Management LLC's holdings in Trip.com Group were worth $8,148,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Trip.com Group by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 257,077 shares of the company's stock worth $16,345,000 after acquiring an additional 10,124 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Trip.com Group during the 1st quarter worth approximately $690,000. Cerity Partners LLC grew its stake in shares of Trip.com Group by 57.8% during the 1st quarter. Cerity Partners LLC now owns 21,657 shares of the company's stock worth $1,377,000 after acquiring an additional 7,929 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Trip.com Group during the 4th quarter worth approximately $382,000. Finally, LPL Financial LLC grew its stake in shares of Trip.com Group by 219.7% during the 1st quarter. LPL Financial LLC now owns 44,706 shares of the company's stock worth $2,842,000 after acquiring an additional 30,723 shares in the last quarter. 35.41% of the stock is owned by institutional investors.

Trip.com Group Price Performance

NASDAQ:TCOM opened at $73.87 on Friday. Trip.com Group Limited Sponsored ADR has a 1-year low of $46.20 and a 1-year high of $77.18. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $65.10 and a 200 day simple moving average of $62.05. The stock has a market capitalization of $48.26 billion, a PE ratio of 20.24, a P/E/G ratio of 3.09 and a beta of 0.03.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Barclays raised their price target on shares of Trip.com Group from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Zacks Research raised shares of Trip.com Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Benchmark reissued a "buy" rating and issued a $80.00 target price on shares of Trip.com Group in a research note on Tuesday, May 20th. Finally, Sanford C. Bernstein raised their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Trip.com Group presently has an average rating of "Buy" and a consensus target price of $76.98.

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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