Fred Alger Management LLC Trims Position in Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• Fred Alger Management LLC reduced its holdings in Trip.com Group Limited by 3.1%, selling 7,732 shares, leaving them with 241,844 shares valued at $15,437,000.
• Several institutional investors, including NewEdge Advisors LLC and Allianz SE, have increased their positions in Trip.com Group, indicating growing interest in the stock.
• Analysts have upgraded their price targets for Trip.com Group, with estimates ranging from $70.00 to $85.00, reflecting a consensus rating of "Buy" from multiple research firms.

Fred Alger Management LLC decreased its stake in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,844 shares of the company's stock after selling 7,732 shares during the period. Fred Alger Management LLC's holdings in Trip.com Group were worth $15,437,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted 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 valued at $16,345,000 after purchasing an additional 10,124 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Trip.com Group during the 1st quarter valued at about $690,000. Cerity Partners LLC lifted its position in Trip.com Group by 57.8% during the 1st quarter. Cerity Partners LLC now owns 21,657 shares of the company's stock valued at $1,377,000 after acquiring an additional 7,929 shares during the period. Baird Financial Group Inc. purchased a new position in Trip.com Group during the 4th quarter valued at about $382,000. Finally, LPL Financial LLC lifted its position in Trip.com Group by 219.7% during the 1st quarter. LPL Financial LLC now owns 44,706 shares of the company's stock valued at $2,842,000 after acquiring an additional 30,723 shares during the period. Institutional investors own 35.41% of the company's stock.

Analyst Ratings Changes

TCOM has been the subject of a number of recent research reports. Zacks Research raised shares of Trip.com Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Mizuho lifted their price target on shares of Trip.com Group from $78.00 to $81.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Sanford C. Bernstein lifted 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 report on Friday, August 29th. Bank of America lifted their target price on shares of Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, TD Securities lifted their target price on shares of Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $76.98.

Trip.com Group Stock Performance

TCOM stock traded down $0.96 during midday trading on Friday, reaching $73.87. 1,368,592 shares of the company's stock traded hands, compared to its average volume of 3,493,159. Trip.com Group Limited Sponsored ADR has a 52-week low of $46.20 and a 52-week high of $77.18. The stock has a market cap of $48.26 billion, a P/E ratio of 20.24, a PEG ratio of 2.99 and a beta of 0.03. 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 stock's 50-day moving average is $64.80 and its 200 day moving average is $61.93.

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.