Fred Alger Management LLC Has $13.51 Million Position in Trip.com Group Limited (NASDAQ:TCOM)

Fred Alger Management LLC cut its holdings in Trip.com Group Limited (NASDAQ:TCOM) by 20.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,326 shares of the company’s stock after selling 59,878 shares during the period. Fred Alger Management LLC’s holdings in Trip.com Group were worth $13,510,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC acquired a new position in shares of Trip.com Group during the third quarter worth approximately $346,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Trip.com Group by 2,170.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 704,244 shares of the company’s stock worth $41,853,000 after acquiring an additional 673,228 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Trip.com Group during the third quarter worth $38,000. Sanders Capital LLC raised its stake in Trip.com Group by 34.7% during the 3rd quarter. Sanders Capital LLC now owns 9,566,403 shares of the company’s stock valued at $568,531,000 after purchasing an additional 2,462,767 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Trip.com Group by 218.1% in the 3rd quarter. Quantbot Technologies LP now owns 16,644 shares of the company’s stock valued at $989,000 after purchasing an additional 11,412 shares during the period. Institutional investors own 35.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TCOM. Benchmark boosted their price objective on shares of Trip.com Group from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Macquarie boosted their price target on Trip.com Group from $75.40 to $80.80 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Hsbc Global Res upgraded Trip.com Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. HSBC upgraded Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, November 19th. Finally, Barclays raised their target price on Trip.com Group from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $74.18.

Trip.com Group Stock Up 1.3 %

Shares of NASDAQ TCOM opened at $64.65 on Friday. Trip.com Group Limited has a 52-week low of $32.42 and a 52-week high of $69.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.42 and a current ratio of 1.42. The business has a fifty day moving average of $62.64 and a two-hundred day moving average of $52.89. The stock has a market cap of $41.64 billion, a PE ratio of 19.36, a PEG ratio of 0.96 and a beta of 0.39.

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.