Allspring Global Investments Holdings LLC Cuts Holdings in Trip.com Group Limited (NASDAQ:TCOM)

Allspring Global Investments Holdings LLC lowered its stake in Trip.com Group Limited (NASDAQ:TCOM) by 17.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,629,557 shares of the company’s stock after selling 343,917 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trip.com Group were worth $76,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TCOM. Capital World Investors lifted its stake in Trip.com Group by 27.5% in the first quarter. Capital World Investors now owns 48,971,654 shares of the company’s stock worth $2,149,366,000 after purchasing an additional 10,576,028 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Trip.com Group by 3,752.1% during the 4th quarter. Schroder Investment Management Group now owns 9,886,320 shares of the company’s stock worth $356,006,000 after acquiring an additional 9,629,673 shares during the last quarter. Capital International Investors boosted its holdings in Trip.com Group by 0.4% during the 1st quarter. Capital International Investors now owns 7,941,645 shares of the company’s stock valued at $348,559,000 after acquiring an additional 29,768 shares during the period. ARGA Investment Management LP increased its stake in Trip.com Group by 4.8% in the first quarter. ARGA Investment Management LP now owns 4,814,510 shares of the company’s stock worth $211,309,000 after purchasing an additional 219,359 shares during the period. Finally, Kontiki Capital Management HK Ltd. lifted its position in shares of Trip.com Group by 1.9% during the first quarter. Kontiki Capital Management HK Ltd. now owns 4,523,780 shares of the company’s stock worth $198,549,000 after purchasing an additional 83,200 shares during the last quarter. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TCOM has been the subject of a number of research analyst reports. StockNews.com lowered shares of Trip.com Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. CLSA upped their target price on Trip.com Group from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Mizuho increased their target price on shares of Trip.com Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. TD Cowen boosted their price target on shares of Trip.com Group from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Barclays lifted their price objective on shares of Trip.com Group from $60.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.38.

Trip.com Group Stock Up 8.5 %

TCOM stock traded up $3.60 on Tuesday, hitting $45.94. 2,420,214 shares of the company’s stock were exchanged, compared to its average volume of 3,645,961. The firm has a 50 day moving average price of $45.41 and a two-hundred day moving average price of $47.20. Trip.com Group Limited has a 12-month low of $31.55 and a 12-month high of $58.00. The stock has a market cap of $29.59 billion, a P/E ratio of 20.69 and a beta of 0.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.15 and a current ratio of 1.15.

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.