Matthews International Capital Management LLC Lowers Holdings in Trip.com Group Limited (NASDAQ:TCOM)

Matthews International Capital Management LLC cut its stake in Trip.com Group Limited (NASDAQ:TCOM) by 34.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 444,364 shares of the company’s stock after selling 238,662 shares during the quarter. Trip.com Group accounts for about 6.2% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Matthews International Capital Management LLC owned 0.07% of Trip.com Group worth $30,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Trip.com Group by 22.0% in the second quarter. Envestnet Asset Management Inc. now owns 95,072 shares of the company’s stock valued at $4,468,000 after acquiring an additional 17,118 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Trip.com Group by 10.8% during the 2nd quarter. Squarepoint Ops LLC now owns 66,354 shares of the company’s stock worth $3,119,000 after acquiring an additional 6,454 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of Trip.com Group during the 2nd quarter valued at $898,000. Point72 Asset Management L.P. purchased a new stake in shares of Trip.com Group in the 2nd quarter worth $9,795,000. Finally, SG Americas Securities LLC raised its holdings in Trip.com Group by 1,917.9% in the 3rd quarter. SG Americas Securities LLC now owns 351,081 shares of the company’s stock worth $20,865,000 after purchasing an additional 333,683 shares during the period. 35.41% of the stock is owned by hedge funds and other institutional investors.

Trip.com Group Price Performance

Shares of Trip.com Group stock opened at $70.00 on Tuesday. The firm has a market cap of $45.09 billion, a PE ratio of 20.96, a PEG ratio of 0.93 and a beta of 0.37. The stock has a 50 day moving average of $67.91 and a 200 day moving average of $57.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.14. Trip.com Group Limited has a 12 month low of $35.90 and a 12 month high of $77.18.

Analyst Ratings Changes

A number of brokerages have commented on TCOM. HSBC upgraded Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, November 19th. TD Cowen increased their target price on shares of Trip.com Group from $56.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Sanford C. Bernstein began coverage on shares of Trip.com Group in a report on Monday, November 4th. They set an “outperform” rating and a $85.00 price target on the stock. Barclays raised 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. Finally, StockNews.com raised shares of Trip.com Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $74.78.

Trip.com Group 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.