Davis Selected Advisers Purchases 1,115,836 Shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM)

Key Points

• Davis Selected Advisers increased its stake in Trip.com Group Limited by 29.8%, now owning a total of 4,862,997 shares valued at approximately $309 million.
• Several hedge funds have also adjusted their positions in Trip.com, with significant increases from firms like Cerity Partners LLC, which raised its stake by 57.8%.
• Analysts have set a consensus rating of "Buy" for Trip.com Group, with an average target price of $77.25, reflecting strong confidence in the stock's future performance.

Davis Selected Advisers boosted its holdings in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 29.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,862,997 shares of the company's stock after purchasing an additional 1,115,836 shares during the period. Trip.com Group comprises approximately 1.8% of Davis Selected Advisers' holdings, making the stock its 20th largest holding. Davis Selected Advisers owned about 0.74% of Trip.com Group worth $309,189,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TCOM. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Trip.com Group by 1,609.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,920,955 shares of the company's stock worth $821,514,000 after acquiring an additional 12,165,176 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of 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 worth $205,057,000 after acquiring an additional 2,839,142 shares during the period. Voya Investment Management LLC grew its holdings in shares of 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 acquiring an additional 1,859,401 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Trip.com Group by 16,640.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,431,336 shares of the company's stock worth $98,277,000 after acquiring an additional 1,422,786 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Trip.com Group by 220,646.1% during the 1st quarter. National Bank of Canada FI now owns 1,019,847 shares of the company's stock worth $64,842,000 after acquiring an additional 1,019,385 shares during the period. Hedge funds and other institutional investors own 35.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TCOM shares. Mizuho upgraded Trip.com Group to a "strong-buy" rating in a report on Friday, May 2nd. Bank of America upped their price target on Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. TD Securities upped their price target on Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Benchmark restated a "buy" rating and issued a $80.00 price target on shares of Trip.com Group in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded Trip.com Group from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Trip.com Group has a consensus rating of "Buy" and a consensus price target of $77.25.

Trip.com Group Stock Down 5.4%

TCOM stock traded down $3.36 during midday trading on Friday, hitting $58.80. The company's stock had a trading volume of 7,011,906 shares, compared to its average volume of 2,141,475. The company has a market cap of $38.41 billion, a PE ratio of 17.04, a P/E/G ratio of 2.82 and a beta of 0.06. Trip.com Group Limited Sponsored ADR has a 12 month low of $40.71 and a 12 month high of $77.18. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $61.06 and its 200-day moving average is $62.12.

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.