ARGA Investment Management LP Sells 1,599,375 Shares of Trip.com Group Limited (NASDAQ:TCOM)

ARGA Investment Management LP trimmed its holdings in Trip.com Group Limited (NASDAQ:TCOM) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,300,029 shares of the company’s stock after selling 1,599,375 shares during the period. Trip.com Group accounts for 9.6% of ARGA Investment Management LP’s holdings, making the stock its 2nd largest position. ARGA Investment Management LP owned 0.67% of Trip.com Group worth $295,240,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. abrdn plc raised its holdings in Trip.com Group by 0.5% in the 4th quarter. abrdn plc now owns 29,598 shares of the company’s stock valued at $2,032,000 after acquiring an additional 150 shares in the last quarter. CWM LLC increased its position in shares of Trip.com Group by 10.4% in the third quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $138,000 after purchasing an additional 220 shares during the period. Brooklyn Investment Group bought a new position in shares of Trip.com Group in the fourth quarter worth $25,000. Creative Planning raised its stake in Trip.com Group by 1.7% in the third quarter. Creative Planning now owns 25,622 shares of the company’s stock valued at $1,523,000 after purchasing an additional 423 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in Trip.com Group during the third quarter worth about $38,000. 35.41% of the stock is currently owned by institutional investors.

Trip.com Group Price Performance

Shares of TCOM opened at $71.27 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.14. The stock has a market cap of $45.90 billion, a PE ratio of 21.34, a PEG ratio of 0.71 and a beta of 0.37. Trip.com Group Limited has a 12-month low of $36.88 and a 12-month high of $77.18. The business has a 50-day simple moving average of $68.83 and a two-hundred day simple moving average of $58.91.

Wall Street Analyst Weigh In

Several equities analysts have commented on TCOM shares. Citigroup raised their target price on shares of Trip.com Group from $73.00 to $78.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays boosted their price objective on shares of Trip.com Group from $76.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. HSBC raised Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, November 19th. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of Trip.com Group in a report on Tuesday, January 14th. Finally, Mizuho raised their price objective on Trip.com Group from $65.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trip.com Group currently has a consensus rating of “Buy” and an average target price of $74.78.

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.