Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Trip.com Group by 50.4% during the first quarter, now holding approximately 395,399 shares valued at $25.14 million.
• Several institutional investors, including Alliancebernstein and National Bank of Canada, have increased their positions in Trip.com, reflecting a growing interest with 35.41% of the stock owned by institutional shareholders.
• Wall Street analysts are optimistic on Trip.com Group, with a consensus rating of "Buy" and a target price forecasted to range up to $80.00, indicating potential growth for the company.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 50.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 395,399 shares of the company's stock after selling 402,387 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Trip.com Group worth $25,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCOM. Alliancebernstein L.P. acquired a new position in Trip.com Group during the 4th quarter worth approximately $1,358,000. National Bank of Canada FI raised its position in shares of Trip.com Group by 227.7% in the 4th quarter. National Bank of Canada FI now owns 462 shares of the company's stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Trip.com Group by 24.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 144,104 shares of the company's stock valued at $9,894,000 after purchasing an additional 28,107 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Trip.com Group in the 4th quarter valued at approximately $409,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Trip.com Group in the 4th quarter valued at approximately $4,192,000. 35.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TCOM has been the topic of a number of recent analyst reports. TD Securities upped their target price on Trip.com Group from $67.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Bank of America upped their target price on Trip.com Group from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Wall Street Zen lowered Trip.com Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of Trip.com Group in a research report on Tuesday, May 20th. Finally, Mizuho raised Trip.com Group to a "strong-buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Trip.com Group presently has a consensus rating of "Buy" and a consensus target price of $77.25.

Trip.com Group Price Performance

Shares of NASDAQ TCOM opened at $58.80 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $38.41 billion, a PE ratio of 17.04, a P/E/G ratio of 2.82 and a beta of 0.06. Trip.com Group Limited Sponsored ADR has a 1-year low of $40.71 and a 1-year high of $77.18. The business's fifty day moving average price is $61.06 and its two-hundred day moving average price is $62.12.

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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