Picton Mahoney Asset Management Trims Position in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM)

Key Points

• Picton Mahoney Asset Management significantly reduced its stake in Trip.com Group by 87.2% during the first quarter, now holding only 3,100 shares worth $197,000.
• Other investors, including Principal Financial Group and Cerity Partners, have increased their holdings in Trip.com Group, indicating a mixed sentiment among institutional investors.
• Analysts have given Trip.com Group a consensus rating of "Buy" with various price targets, including a recent increase from TD Securities from $67.00 to $73.00.

Picton Mahoney Asset Management trimmed its holdings in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 87.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,100 shares of the company's stock after selling 21,100 shares during the period. Picton Mahoney Asset Management's holdings in Trip.com Group were worth $197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Trip.com Group by 4.1% in the first 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 Trip.com Group in the first quarter valued at about $690,000. Cerity Partners LLC increased its holdings in Trip.com Group by 57.8% in the first quarter. Cerity Partners LLC now owns 21,657 shares of the company's stock valued at $1,377,000 after buying an additional 7,929 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Trip.com Group in the fourth quarter valued at about $382,000. Finally, SG Americas Securities LLC purchased a new position in Trip.com Group in the first quarter valued at about $432,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Trip.com Group Stock Up 0.4%

Shares of NASDAQ TCOM opened at $61.95 on Friday. Trip.com Group Limited Sponsored ADR has a 1 year low of $38.23 and a 1 year high of $77.18. The firm's 50 day moving average price is $61.26 and its 200 day moving average price is $62.37. The firm has a market cap of $40.47 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.96 and a beta of 0.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.46 and a current ratio of 1.46.

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.

Want to see what other hedge funds are holding TCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.