Goldman Sachs Group Inc. Boosts Stake in Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• Goldman Sachs increased its holdings in Trip.com Group by 97.2%, resulting in ownership of 1,471,349 shares valued at approximately $93.5 million.
• Multiple hedge funds have significantly boosted their stakes in Trip.com Group, with Mirae Asset Global Investments increasing its holdings by 1,609.6% to a total of nearly 12.9 million shares.
• Wall Street analysts are optimistic, with TD Securities and others raising their target price, indicating an overall consensus rating of "Buy" for the company's stock.

Goldman Sachs Group Inc. grew its holdings in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 97.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471,349 shares of the company's stock after buying an additional 725,132 shares during the quarter. Goldman Sachs Group Inc. owned 0.23% of Trip.com Group worth $93,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TCOM. 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 worth $821,514,000 after acquiring an additional 12,165,176 shares during the last quarter. Davis Selected Advisers boosted its stake in shares of Trip.com Group by 29.8% in the first quarter. Davis Selected Advisers now owns 4,862,997 shares of the company's stock worth $309,189,000 after acquiring an additional 1,115,836 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Trip.com Group by 220,646.1% in the first 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 last quarter. Temasek Holdings Private Ltd acquired a new stake in shares of Trip.com Group in the first quarter worth approximately $54,568,000. Finally, Invesco Ltd. boosted its stake in shares of Trip.com Group by 135.3% in the first quarter. Invesco Ltd. now owns 1,444,890 shares of the company's stock worth $91,866,000 after acquiring an additional 830,808 shares during the last quarter. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

Trip.com Group Trading Up 1.8%

Trip.com Group stock traded up $1.36 during trading on Thursday, reaching $78.15. 4,128,387 shares of the company were exchanged, compared to its average volume of 3,228,129. Trip.com Group Limited Sponsored ADR has a 52-week low of $47.04 and a 52-week high of $78.65. The company has a market capitalization of $51.05 billion, a P/E ratio of 21.41, a PEG ratio of 3.17 and a beta of 0.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.33 and a quick ratio of 1.33. The stock's 50 day simple moving average is $66.31 and its two-hundred day simple moving average is $62.57.

Wall Street Analyst Weigh In

TCOM has been the topic of a number of research analyst reports. Barclays lifted their price target on Trip.com Group from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Bank of America lifted 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. Mizuho lifted their price target on Trip.com Group from $78.00 to $81.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Sanford C. Bernstein lifted their price target on Trip.com Group from $75.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Zacks Research upgraded Trip.com Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat, Trip.com Group currently has an average rating of "Buy" and an average price target of $76.98.

Trip.com Group Company 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.