Renaissance Technologies LLC Purchases 1,824,300 Shares of Trip.com Group Limited (NASDAQ:TCOM)

by · The Cerbat Gem

Renaissance Technologies LLC grew its position in shares of Trip.com Group Limited (NASDAQ:TCOM – Free Report) by 183.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,816,812 shares of the company’s stock after acquiring an additional 1,824,300 shares during the period. Renaissance Technologies LLC owned about 0.44% of Trip.com Group worth $98,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TCOM. Capital World Investors bought a new position in shares of Trip.com Group during the second quarter valued at about $826,332,000. Norges Bank bought a new position in shares of Trip.com Group during the fourth quarter valued at about $213,195,000. Select Equity Group L.P. bought a new position in shares of Trip.com Group during the first quarter valued at about $168,290,000. BlackRock Inc. raised its stake in shares of Trip.com Group by 18.1% during the first quarter. BlackRock Inc. now owns 25,456,730 shares of the company’s stock valued at $588,559,000 after acquiring an additional 3,893,531 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of Trip.com Group by 459.5% during the first quarter. Fred Alger Management LLC now owns 3,143,012 shares of the company’s stock valued at $118,397,000 after acquiring an additional 2,581,231 shares during the last quarter. 38.24% of the stock is owned by institutional investors.

Trip.com Group Trading Up 2.1 %

NASDAQ:TCOM opened at $35.18 on Friday. The company’s 50 day moving average price is $34.37 and its 200-day moving average price is $35.76. Trip.com Group Limited has a 52 week low of $28.45 and a 52 week high of $43.59. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.16. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 15.64 and a beta of 0.61.

Trip.com Group (NASDAQ:TCOM – Get Free Report) last posted its quarterly earnings results on Monday, September 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.20. Trip.com Group had a net margin of 27.48% and a return on equity of 7.95%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. On average, equities research analysts forecast that Trip.com Group Limited will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Trip.com Group from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. TheStreet raised shares of Trip.com Group from a “c” rating to a “b-” rating in a research note on Tuesday, November 21st. TD Cowen increased their price target on shares of Trip.com Group from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 7th. Nomura downgraded shares of Trip.com Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Trip.com Group in a research note on Tuesday, November 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.85.

View Our Latest Stock Report on TCOM

Trip.com Group Company Profile

(Free Report)

Trip.com Group Limited 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.

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