Trip.com Group (NASDAQ:TCOM) Hits New 1-Year High - Here's What Happened

Key Points

• Trip.com Group shares reached a new **52-week high** of **$77.89** during mid-day trading and last traded at **$76.93**.
• Analyst upgrades include a price target increase from **$68.00** to **$70.00** by Bank of America, while **Zacks Research** upgraded the stock to a **strong-buy** rating.
• Institutional investors have increased their stakes significantly, with **35.41%** of the stock now held by these investors.

Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $77.89 and last traded at $76.93, with a volume of 294266 shares trading hands. The stock had previously closed at $76.58.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TCOM shares. Bank of America boosted their price objective on Trip.com Group from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Mizuho boosted their price objective 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 raised Trip.com Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Sanford C. Bernstein boosted their target price on Trip.com Group from $75.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Barclays boosted their target price on Trip.com Group from $84.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat, Trip.com Group has an average rating of "Buy" and a consensus price target of $76.98.

Trip.com Group Price Performance

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $66.31 and a 200 day moving average of $62.57. The firm has a market capitalization of $51.05 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 3.17 and a beta of 0.03.

Institutional Trading of Trip.com Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCOM. Stone House Investment Management LLC bought a new stake in Trip.com Group during the 1st quarter worth approximately $32,000. NewEdge Advisors LLC increased its holdings in Trip.com Group by 384.6% during the 1st quarter. NewEdge Advisors LLC now owns 567 shares of the company's stock worth $36,000 after purchasing an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Trip.com Group by 44.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 701 shares of the company's stock worth $41,000 after purchasing an additional 215 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Trip.com Group by 67.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 851 shares of the company's stock worth $50,000 after purchasing an additional 342 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Trip.com Group in the first quarter valued at approximately $58,000. 35.41% of the stock is owned by institutional investors.

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.