674,999 Shares in Trip.com Group Limited Sponsored ADR $TCOM Acquired by Perseverance Asset Management International

Perseverance Asset Management International purchased a new stake in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 674,999 shares of the company’s stock, valued at approximately $33,608,000. Trip.com Group makes up about 3.7% of Perseverance Asset Management International’s investment portfolio, making the stock its 7th largest position.

Several other institutional investors have also recently bought and sold shares of TCOM. Brown Brothers Harriman & Co. boosted its stake in Trip.com Group by 237.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company’s stock worth $29,000 after purchasing an additional 280 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Trip.com Group in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Trip.com Group by 601.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 554 shares of the company’s stock valued at $42,000 after buying an additional 475 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Trip.com Group by 384.6% in the first quarter. NewEdge Advisors LLC now owns 567 shares of the company’s stock valued at $36,000 after buying an additional 450 shares during the last quarter. Finally, First Horizon Corp raised its holdings in shares of Trip.com Group by 69.3% in the first quarter. First Horizon Corp now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 250 shares during the last quarter. Institutional investors own 35.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TCOM. China Renaissance reiterated a “hold” rating and set a $42.00 price target on shares of Trip.com Group in a research report on Thursday, July 2nd. Zacks Research cut shares of Trip.com Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Nomura reduced their target price on shares of Trip.com Group from $71.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, June 26th. Weiss Ratings cut shares of Trip.com Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. Finally, Mizuho lowered their price target on shares of Trip.com Group from $79.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Trip.com Group has a consensus rating of “Moderate Buy” and an average target price of $63.20.

Trip.com Group Price Performance

Trip.com Group stock opened at $43.02 on Friday. The business’s 50-day simple moving average is $45.02 and its 200 day simple moving average is $52.28. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.06. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 6.73, a P/E/G ratio of 3.26 and a beta of -0.03. Trip.com Group Limited Sponsored ADR has a 12-month low of $38.04 and a 12-month high of $78.99.

Trip.com Group (NASDAQ:TCOM) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.02). Trip.com Group had a return on equity of 17.57% and a net margin of 48.26%.The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts anticipate that Trip.com Group Limited Sponsored ADR will post 3.27 earnings per share for the current year.

Trip.com Group Profile

Trip.com Group (NASDAQ: TCOM) is a China-based online travel services company that provides a broad range of consumer and business travel products. The company operates consumer-facing travel platforms and mobile apps that enable users to search, book and manage hotel reservations, airline tickets, packaged tours, rail travel, car rentals, airport transfers and local activities. It also offers corporate travel management and B2B solutions that support travel suppliers and downstream distribution partners.

Headquartered in Shanghai, Trip.com Group serves customers across China and increasingly in international markets through a portfolio of brands and global distribution channels.