Jupiter Asset Management Ltd. Purchases New Position in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM)

Key Points

• Jupiter Asset Management Ltd. has acquired a new position in Trip.com Group Limited by purchasing 123,555 shares valued at approximately $7.86 million in the first quarter of 2023.
• Multiple institutional investors, including Arrowstreet Capital and Massachusetts Financial Services, have also made significant investments in Trip.com Group, indicating growing institutional interest in the company.
• Trip.com Group has received mixed ratings from analysts, with one downgrade to "hold" and several upgrades to "buy" and "strong buy," alongside a consensus target price of $77.25.

Jupiter Asset Management Ltd. bought a new stake in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 123,555 shares of the company's stock, valued at approximately $7,856,000.

Several other hedge funds have also recently made changes to their positions in TCOM. Principal Financial Group Inc. lifted 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 buying an additional 10,124 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Trip.com Group during the 1st quarter worth approximately $690,000. Cerity Partners LLC lifted its position 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 purchasing an additional 7,929 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Trip.com Group in the fourth quarter valued at about $382,000. Finally, SG Americas Securities LLC acquired a new position in Trip.com Group during the first quarter worth about $432,000. 35.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TCOM. Benchmark reissued a "buy" rating and issued a $80.00 target price on shares of Trip.com Group in a research report on Tuesday, May 20th. Bank of America raised their target price on Trip.com Group from $68.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Mizuho raised shares of Trip.com Group to a "strong-buy" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Trip.com Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, TD Securities raised their target price on shares of Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $77.25.

Trip.com Group Stock Performance

Shares of NASDAQ TCOM traded up $0.21 during midday trading on Thursday, reaching $62.11. The company's stock had a trading volume of 1,402,992 shares, compared to its average volume of 3,453,646. Trip.com Group Limited Sponsored ADR has a 12-month low of $40.71 and a 12-month high of $77.18. The firm has a 50 day moving average price of $61.18 and a 200-day moving average price of $62.26. The stock has a market capitalization of $40.57 billion, a P/E ratio of 18.00, a PEG ratio of 2.93 and a beta of 0.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46.

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.