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

Allspring Global Investments Holdings LLC trimmed its stake in shares of Trip.com Group Limited (NASDAQ:TCOM - Free Report) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,440,284 shares of the company's stock after selling 133,124 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of Trip.com Group worth $93,287,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. WCM Investment Management LLC grew its stake in Trip.com Group by 3.2% during the fourth quarter. WCM Investment Management LLC now owns 641,304 shares of the company's stock valued at $44,000,000 after acquiring an additional 19,966 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Trip.com Group in the 4th quarter worth $136,000. WT Asset Management Ltd grew its stake in shares of Trip.com Group by 92.3% in the 4th quarter. WT Asset Management Ltd now owns 44,416 shares of the company's stock worth $3,050,000 after buying an additional 21,316 shares in the last quarter. Ninety One North America Inc. grew its stake in shares of Trip.com Group by 0.8% in the 4th quarter. Ninety One North America Inc. now owns 622,663 shares of the company's stock worth $42,752,000 after buying an additional 4,889 shares in the last quarter. Finally, abrdn plc grew its stake in shares of Trip.com Group by 0.5% in the 4th quarter. abrdn plc now owns 29,598 shares of the company's stock worth $2,032,000 after buying an additional 150 shares in the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TCOM. Benchmark reissued a "buy" rating and issued a $80.00 price objective on shares of Trip.com Group in a research note on Tuesday, January 14th. Sanford C. Bernstein began coverage on shares of Trip.com Group in a research note on Monday, November 4th. They issued an "outperform" rating and a $85.00 price objective for the company. HSBC raised shares of Trip.com Group from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Tuesday, November 19th. Barclays raised their target price on shares of Trip.com Group from $76.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded shares of Trip.com Group from a "hold" rating to a "buy" rating in a report on Wednesday, November 20th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trip.com Group has a consensus rating of "Buy" and an average target price of $74.78.

Trip.com Group Trading Down 0.7 %

TCOM traded down $0.49 on Friday, reaching $69.25. 4,309,086 shares of the company traded hands, compared to its average volume of 2,152,326. Trip.com Group Limited has a one year low of $38.23 and a one year high of $77.18. The firm has a fifty day simple moving average of $69.38 and a two-hundred day simple moving average of $60.46. The company has a market cap of $44.60 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.37. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.14.

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.