SteelPeak Wealth LLC Sells 6,129 Shares of Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• SteelPeak Wealth LLC significantly reduced its stake in Trip.com Group by 40.7% during the second quarter, now holding 8,926 shares worth $523,000.
• Various institutional investors have shown interest in Trip.com Group, with Allianz SE increasing its stake by 312.2%, signaling positive sentiment in the market.
• Wall Street analysts have boosted their price targets for Trip.com Group, with an average target of $76.98 and a consensus rating of "Buy", indicating expected growth in the stock's value.

SteelPeak Wealth LLC lessened its stake in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 40.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,926 shares of the company's stock after selling 6,129 shares during the period. SteelPeak Wealth LLC's holdings in Trip.com Group were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TCOM. Stone House Investment Management LLC bought a new stake in shares of Trip.com Group during the first quarter valued at approximately $32,000. NewEdge Advisors LLC raised its stake in Trip.com Group by 384.6% in the first quarter. NewEdge Advisors LLC now owns 567 shares of the company's stock worth $36,000 after buying an additional 450 shares in the last quarter. Summit Securities Group LLC bought a new position in Trip.com Group in the first quarter worth approximately $58,000. Farther Finance Advisors LLC raised its stake in Trip.com Group by 140.2% in the second quarter. Farther Finance Advisors LLC now owns 1,177 shares of the company's stock worth $69,000 after buying an additional 687 shares in the last quarter. Finally, Allianz SE raised its stake in Trip.com Group by 312.2% in the first quarter. Allianz SE now owns 1,150 shares of the company's stock worth $73,000 after buying an additional 871 shares in the last quarter. Institutional investors own 35.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays boosted 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, August 29th. Mizuho boosted 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, August 28th. Weiss Ratings reissued a "hold (c+)" rating on shares of Trip.com Group in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on shares of Trip.com Group from $75.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Zacks Research raised shares of Trip.com Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $76.98.

Trip.com Group Price Performance

NASDAQ TCOM opened at $71.55 on Thursday. The firm's fifty day simple moving average is $69.63 and its two-hundred day simple moving average is $63.69. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07. Trip.com Group Limited Sponsored ADR has a 12-month low of $51.35 and a 12-month high of $78.65. The firm has a market capitalization of $46.74 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.96 and a beta of 0.03.

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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