Platinum Investment Management Ltd. Sells 150,303 Shares of Trip.com Group Limited Sponsored ADR $TCOM

Platinum Investment Management Ltd. trimmed its position in Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM) by 22.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,979 shares of the company’s stock after selling 150,303 shares during the period. Trip.com Group makes up approximately 2.1% of Platinum Investment Management Ltd.’s portfolio, making the stock its 19th biggest position. Platinum Investment Management Ltd. owned approximately 0.08% of Trip.com Group worth $30,902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Trip.com Group by 1,609.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,920,955 shares of the company’s stock valued at $821,514,000 after acquiring an additional 12,165,176 shares in the last quarter. Davis Selected Advisers increased its stake in Trip.com Group by 29.8% during the 1st quarter. Davis Selected Advisers now owns 4,862,997 shares of the company’s stock valued at $309,189,000 after purchasing an additional 1,115,836 shares in the last quarter. Voya Investment Management LLC increased its stake in Trip.com Group by 41.4% during the 1st quarter. Voya Investment Management LLC now owns 2,979,370 shares of the company’s stock valued at $189,428,000 after purchasing an additional 872,630 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Trip.com Group by 48.7% during the first quarter. Russell Investments Group Ltd. now owns 2,386,398 shares of the company’s stock worth $151,727,000 after acquiring an additional 781,916 shares in the last quarter. Finally, Kontiki Capital Management HK Ltd. increased its position in shares of Trip.com Group by 3.4% during the first quarter. Kontiki Capital Management HK Ltd. now owns 1,929,847 shares of the company’s stock worth $122,700,000 after acquiring an additional 63,407 shares in the last quarter. 35.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TCOM shares. Mizuho boosted their target price on shares of Trip.com Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Sanford C. Bernstein boosted their price objective on Trip.com Group from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Barclays upped their price target on Trip.com Group from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Finally, Zacks Research upgraded Trip.com Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $76.98.

Trip.com Group Stock Down 0.3%

Shares of NASDAQ:TCOM opened at $74.94 on Thursday. The company has a market capitalization of $48.96 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.10 and a beta of 0.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.33 and a quick ratio of 1.33. The business has a fifty day moving average price of $68.72 and a two-hundred day moving average price of $63.45. Trip.com Group Limited Sponsored ADR has a 1 year low of $51.35 and a 1 year high of $78.65.

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.