Lord Abbett & CO. LLC Makes New $1.23 Million Investment in Trip.com Group Limited (NASDAQ:TCOM)

Lord Abbett & CO. LLC purchased a new position in Trip.com Group Limited (NASDAQ:TCOM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,645 shares of the company's stock, valued at approximately $1,227,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TCOM. FMR LLC increased its holdings in shares of Trip.com Group by 32.8% in the third quarter. FMR LLC now owns 11,123,783 shares of the company's stock valued at $661,086,000 after buying an additional 2,749,365 shares in the last quarter. Sanders Capital LLC raised its holdings 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 worth $568,531,000 after buying an additional 2,462,767 shares during the period. ARGA Investment Management LP lifted its position in shares of Trip.com Group by 46.9% in the 3rd quarter. ARGA Investment Management LP now owns 5,899,404 shares of the company's stock valued at $350,602,000 after acquiring an additional 1,884,044 shares in the last quarter. Cantillon Capital Management LLC boosted its stake in Trip.com Group by 14.9% in the 3rd quarter. Cantillon Capital Management LLC now owns 4,868,383 shares of the company's stock worth $289,328,000 after purchasing an additional 629,508 shares during the period. Finally, CoreView Capital Management Ltd lifted its holdings in shares of Trip.com Group by 15.8% in the third quarter. CoreView Capital Management Ltd now owns 4,676,166 shares of the company's stock valued at $277,905,000 after purchasing an additional 639,000 shares in the last quarter. 35.41% of the stock is owned by institutional investors and hedge funds.

Trip.com Group Stock Performance

Shares of Trip.com Group stock traded up $2.05 during midday trading on Tuesday, hitting $74.61. The company had a trading volume of 2,594,072 shares, compared to its average volume of 4,024,193. Trip.com Group Limited has a 1-year low of $33.33 and a 1-year high of $77.18. The business's 50 day simple moving average is $65.18 and its two-hundred day simple moving average is $54.29. The stock has a market cap of $48.06 billion, a PE ratio of 22.34, a P/E/G ratio of 1.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.42 and a quick ratio of 1.42.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TCOM. HSBC upgraded Trip.com Group from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Tuesday, November 19th. Citigroup boosted their price target on Trip.com Group from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. StockNews.com raised shares of Trip.com Group from a "hold" rating to a "buy" rating in a research report on Wednesday, November 20th. Macquarie boosted their target price on shares of Trip.com Group from $75.40 to $80.80 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Finally, TD Cowen raised their price target on shares of Trip.com Group from $56.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Eleven equities 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 data from MarketBeat, Trip.com Group has a consensus rating of "Buy" and an average price target of $74.18.

About Trip.com Group

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.