Bank of America Corp DE reduced its stake in shares of Trip.com Group Limited (NASDAQ:TCOM) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,432,280 shares of the company’s stock after selling 89,108 shares during the period. Bank of America Corp DE owned 0.26% of Trip.com Group worth $37,126,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in Trip.com Group during the second quarter worth approximately $434,000. Private Advisor Group LLC purchased a new position in shares of Trip.com Group during the 1st quarter worth $1,527,000. CIBC Asset Management Inc grew its holdings in shares of Trip.com Group by 1.4% in the second quarter. CIBC Asset Management Inc now owns 42,364 shares of the company’s stock valued at $1,098,000 after purchasing an additional 595 shares during the period. New York State Common Retirement Fund increased its position in Trip.com Group by 16.3% during the second quarter. New York State Common Retirement Fund now owns 544,902 shares of the company’s stock worth $14,124,000 after purchasing an additional 76,500 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Trip.com Group during the first quarter worth about $5,052,000. Institutional investors and hedge funds own 70.31% of the company’s stock.
Shares of Trip.com Group stock opened at $29.03 on Wednesday. The company has a 50-day moving average of $28.76 and a two-hundred day moving average of $26.50. Trip.com Group Limited has a 12-month low of $20.10 and a 12-month high of $38.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a market cap of $16.05 billion, a PE ratio of -39.77 and a beta of 1.60.
TCOM has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Trip.com Group from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Nomura raised Trip.com Group from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, May 29th. BTIG Research assumed coverage on shares of Trip.com Group in a research report on Wednesday, June 10th. They set a “neutral” rating on the stock. Nomura Instinet upgraded shares of Trip.com Group from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, May 29th. Finally, Bank of America dropped their price target on Trip.com Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $31.90.
Trip.com Group Profile
Trip.com Group Limited operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China. The company acts as an agent for hotel-related transactions and selling air tickets; and provides other related services, including sale of aviation and train insurance, air-ticket delivery services, online check-in, and other value-added services, such as online seat selection, express security check, and real-time flight status.
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