Platinum Investment Management Ltd. Sells 776,475 Shares of Trip.com Group Limited (NASDAQ:TCOM)

Platinum Investment Management Ltd. decreased its position in Trip.com Group Limited (NASDAQ:TCOM) by 53.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 677,282 shares of the company’s stock after selling 776,475 shares during the quarter. Trip.com Group makes up 2.7% of Platinum Investment Management Ltd.’s portfolio, making the stock its 12th biggest holding. Platinum Investment Management Ltd. owned 0.11% of Trip.com Group worth $46,502,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in 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 acquiring an additional 2,749,365 shares during the period. Sanders Capital LLC lifted its holdings in Trip.com Group by 34.7% in the third quarter. Sanders Capital LLC now owns 9,566,403 shares of the company’s stock valued at $568,531,000 after acquiring an additional 2,462,767 shares during the period. ARGA Investment Management LP increased its position in Trip.com Group by 46.9% in the third quarter. ARGA Investment Management LP now owns 5,899,404 shares of the company’s stock worth $350,602,000 after buying an additional 1,884,044 shares in the last quarter. Cantillon Capital Management LLC increased its position in Trip.com Group by 14.9% in the third quarter. Cantillon Capital Management LLC now owns 4,868,383 shares of the company’s stock worth $289,328,000 after buying an additional 629,508 shares in the last quarter. Finally, CoreView Capital Management Ltd increased its position in 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 worth $277,905,000 after buying an additional 639,000 shares in the last quarter. Institutional investors own 35.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TCOM. TD Cowen upped their price target on Trip.com Group from $56.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup upped their price target on Trip.com Group from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of Trip.com Group in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on Trip.com Group from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, HSBC upgraded Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.08.

Trip.com Group Price Performance

Shares of Trip.com Group stock opened at $66.09 on Wednesday. The stock has a 50 day moving average of $65.78 and a 200 day moving average of $63.57. Trip.com Group Limited has a 12 month low of $38.23 and a 12 month high of $77.18. The firm has a market cap of $42.57 billion, a PE ratio of 19.79, a PEG ratio of 0.67 and a beta of 0.38. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.14.

Trip.com Group Dividend Announcement

The company also recently declared a — dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 17th. Trip.com Group’s payout ratio is presently 8.02%.

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.