Price T Rowe Associates Inc. MD Increases Stake in Trip.com Group Limited Sponsored ADR $TCOM

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Trip.com Group Limited by 11.3%, holding over 1.59 million shares worth approximately $101 million as of the latest filing.
• Several research firms have upgraded Trip.com Group, with target prices ranging from $70.00 to $80.00 and most analysts rating the stock as a "buy."
• Institutional investors currently own 35.41% of Trip.com Group's stock, reflecting a growing interest in the company from large investment firms.

Price T Rowe Associates Inc. MD lifted its holdings in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,592,631 shares of the company's stock after acquiring an additional 161,295 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.24% of Trip.com Group worth $101,261,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers raised its holdings in Trip.com Group by 0.7% in the 1st quarter. Cetera Investment Advisers now owns 22,704 shares of the company's stock worth $1,444,000 after purchasing an additional 166 shares in the last quarter. Prudential PLC raised its holdings in Trip.com Group by 2.1% in the 1st quarter. Prudential PLC now owns 11,897 shares of the company's stock worth $756,000 after purchasing an additional 244 shares in the last quarter. Townsquare Capital LLC raised its holdings in Trip.com Group by 4.2% in the 1st quarter. Townsquare Capital LLC now owns 8,349 shares of the company's stock worth $531,000 after purchasing an additional 338 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Trip.com Group by 28.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,633 shares of the company's stock worth $104,000 after purchasing an additional 360 shares in the last quarter. Finally, CWM LLC raised its holdings in Trip.com Group by 15.0% in the 1st quarter. CWM LLC now owns 2,810 shares of the company's stock worth $179,000 after purchasing an additional 366 shares in the last quarter. 35.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TCOM. TD Securities upped their price objective on shares of Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Mizuho upped their price objective on shares of Trip.com Group from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America upped their price objective on shares of Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Barclays upped their target price on shares of Trip.com Group from $84.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Sanford C. Bernstein upped their target price on shares of Trip.com Group from $75.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $76.98.

Trip.com Group Stock Down 1.7%

Shares of NASDAQ:TCOM traded down $1.28 during midday trading on Friday, reaching $73.75. The company's stock had a trading volume of 4,246,337 shares, compared to its average volume of 3,527,075. The firm has a 50 day moving average of $62.27 and a 200-day moving average of $61.51. The firm has a market capitalization of $48.18 billion, a P/E ratio of 20.21, a PEG ratio of 3.53 and a beta of 0.03. 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 12-month low of $46.20 and a 12-month high of $77.18.

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.