Royal Bank of Canada Buys 84,423 Shares of Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• Royal Bank of Canada increased its Trip.com Group stake by 162.6% in the first quarter, adding 84,423 shares for a total of 136,340 shares valued at approximately $6.8 million. Institutional investors and hedge funds own 35.41% of the stock.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, three Holds and one Sell. Trip.com has a “Moderate Buy” consensus rating and an average price target of $63.75, despite several recent target reductions.
• Trip.com shares opened at $46.20, near the lower end of their 12-month range, while quarterly revenue rose 17.2% year over year to $2.35 billion. Earnings per share of $0.83 narrowly missed the $0.85 consensus estimate.

Royal Bank of Canada lifted its stake in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 162.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,340 shares of the company's stock after acquiring an additional 84,423 shares during the quarter. Royal Bank of Canada's holdings in Trip.com Group were worth $6,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TCOM. Brown Brothers Harriman & Co. increased its position in Trip.com Group by 237.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company's stock valued at $29,000 after purchasing an additional 280 shares during the period. First Horizon Corp raised its holdings in Trip.com Group by 69.3% during the 1st quarter. First Horizon Corp now owns 611 shares of the company's stock worth $30,000 after purchasing an additional 250 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in shares of Trip.com Group in the 4th quarter worth approximately $31,000. NewEdge Advisors LLC lifted its position in shares of Trip.com Group by 384.6% in the 1st quarter. NewEdge Advisors LLC now owns 567 shares of the company's stock worth $36,000 after purchasing an additional 450 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Trip.com Group by 44.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 701 shares of the company's stock valued at $41,000 after purchasing an additional 215 shares during the last quarter. 35.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TCOM shares. Citigroup decreased their price objective on shares of Trip.com Group from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. China Renaissance restated a "hold" rating and issued a $42.00 target price on shares of Trip.com Group in a report on Thursday, July 2nd. Zacks Research cut shares of Trip.com Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 30th. Nomura decreased their price target on Trip.com Group from $71.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, June 26th. Finally, Barclays lowered their price objective on Trip.com Group from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, June 26th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.75.

Trip.com Group Trading Down 2.0%

NASDAQ:TCOM opened at $46.20 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 3.76 and a beta of -0.02. The firm has a fifty day simple moving average of $44.53 and a two-hundred day simple moving average of $50.13. Trip.com Group Limited Sponsored ADR has a 12 month low of $38.04 and a 12 month high of $78.99.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.02). The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.30 billion. Trip.com Group had a net margin of 48.26% and a return on equity of 17.57%. Trip.com Group's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. Analysts expect that Trip.com Group Limited Sponsored ADR will post 3.14 EPS for the current fiscal year.

Trip.com Group Profile

Trip.com Group NASDAQ: TCOM is a China-based online travel services company that provides a broad range of consumer and business travel products. The company operates consumer-facing travel platforms and mobile apps that enable users to search, book and manage hotel reservations, airline tickets, packaged tours, rail travel, car rentals, airport transfers and local activities. It also offers corporate travel management and B2B solutions that support travel suppliers and downstream distribution partners.

Headquartered in Shanghai, Trip.com Group serves customers across China and increasingly in international markets through a portfolio of brands and global distribution channels.

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