Public Employees Retirement System of Ohio Cuts Stake in Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Trip.com Group by 16.6%, owning 163,068 shares valued at approximately $9.56 million after selling 32,534 shares.
• In the first quarter, several institutional investors significantly increased their stakes in Trip.com Group, with Mirae Asset Global Investments leading at a 1,609.6% increase, owning nearly 12.92 million shares valued at about $821 million.
• Analysts have shown a positive outlook on Trip.com Group, with multiple firms raising their price targets, resulting in a consensus rating of "Buy" and an average price target of $76.98.

Public Employees Retirement System of Ohio lessened its stake in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 16.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,068 shares of the company's stock after selling 32,534 shares during the period. Public Employees Retirement System of Ohio's holdings in Trip.com Group were worth $9,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $821,514,000 after purchasing an additional 12,165,176 shares during the last quarter. Davis Selected Advisers grew its stake in Trip.com Group by 29.8% in the first quarter. Davis Selected Advisers now owns 4,862,997 shares of the company's stock valued at $309,189,000 after purchasing an additional 1,115,836 shares during the last quarter. Voya Investment Management LLC grew its stake in Trip.com Group by 41.4% in the first quarter. Voya Investment Management LLC now owns 2,979,370 shares of the company's stock valued at $189,428,000 after purchasing an additional 872,630 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Trip.com Group by 48.7% in the first quarter. Russell Investments Group Ltd. now owns 2,386,398 shares of the company's stock valued at $151,727,000 after purchasing an additional 781,916 shares during the last quarter. Finally, Kontiki Capital Management HK Ltd. grew its stake in Trip.com Group by 3.4% in the first quarter. Kontiki Capital Management HK Ltd. now owns 1,929,847 shares of the company's stock valued at $122,700,000 after purchasing an additional 63,407 shares during the last quarter. Hedge funds and other institutional investors own 35.41% of the company's stock.

Trip.com Group Trading Up 0.3%

Trip.com Group stock opened at $75.92 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.07. Trip.com Group Limited Sponsored ADR has a 52 week low of $51.35 and a 52 week high of $78.65. The company has a market capitalization of $49.60 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.03. The stock has a 50-day moving average price of $68.02 and a 200 day moving average price of $63.18.

Analyst Ratings Changes

Several equities analysts have issued reports on TCOM shares. Mizuho lifted their target price on Trip.com Group from $78.00 to $81.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Zacks Research upgraded Trip.com Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Sanford C. Bernstein raised their price target on Trip.com Group from $75.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Barclays raised their price target on Trip.com Group from $84.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.

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