Hsbc Holdings PLC Purchases 71,834 Shares of Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• Hsbc Holdings PLC increased its stake in Trip.com Group by 271.5% during the first quarter, acquiring an additional 71,834 shares to total 98,289 shares valued at approximately $6.23 million.
• Analysts are bullish on Trip.com Group, with multiple firms raising their price targets, including TD Securities and Bank of America, resulting in an average price target of $77.25 with an overall "Buy" rating.
• The stock has shown positive trading momentum, with an opening price of $65.93, reflecting an impressive 12-month high of $77.18.

Hsbc Holdings PLC grew its holdings in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 271.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,289 shares of the company's stock after purchasing an additional 71,834 shares during the quarter. Hsbc Holdings PLC's holdings in Trip.com Group were worth $6,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in Trip.com Group in the first quarter valued at approximately $32,000. Summit Securities Group LLC bought a new position in shares of Trip.com Group in the 1st quarter worth $58,000. Allianz SE boosted its position in shares of Trip.com Group by 312.2% in the 1st quarter. Allianz SE now owns 1,150 shares of the company's stock worth $73,000 after purchasing an additional 871 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Trip.com Group by 239.5% in the 1st quarter. Brooklyn Investment Group now owns 1,229 shares of the company's stock worth $78,000 after purchasing an additional 867 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trip.com Group by 28.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,633 shares of the company's stock worth $104,000 after purchasing an additional 360 shares during the last quarter. 35.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TCOM has been the topic of a number of recent analyst reports. TD Securities raised 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. Barclays lifted their price objective 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. Bank of America lifted their price objective 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. Mizuho lifted their price objective on shares of Trip.com Group from $78.00 to $81.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Benchmark reissued a "buy" rating and set a $80.00 price target on shares of Trip.com Group in a research report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $76.98.

Trip.com Group Stock Down 1.7%

TCOM traded down $1.28 during trading on Friday, reaching $73.75. The company had a trading volume of 4,246,337 shares, compared to its average volume of 3,527,075. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.33 and a quick ratio of 1.33. Trip.com Group Limited Sponsored ADR has a 12 month low of $46.20 and a 12 month high of $77.18. The business's fifty day moving average price is $62.27 and its 200 day moving average price is $61.51. The company has a market cap of $48.18 billion, a P/E ratio of 20.21, a PEG ratio of 3.53 and a beta of 0.03.

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.