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

Platinum Investment Management Ltd. trimmed its stake in Trip.com Group Limited (NASDAQ:TCOM) by 53.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 677,282 shares of the company’s stock after selling 776,475 shares during the period. Trip.com Group comprises approximately 2.7% of Platinum Investment Management Ltd.’s holdings, making the stock its 12th largest position. Platinum Investment Management Ltd.’s holdings in Trip.com Group were worth $46,502,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group bought a new stake in shares of Trip.com Group during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. lifted its stake in shares of Trip.com Group by 1,496.7% during the 4th quarter. Rakuten Securities Inc. now owns 479 shares of the company’s stock worth $33,000 after acquiring an additional 449 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Trip.com Group by 46.8% during the 4th quarter. Principal Securities Inc. now owns 530 shares of the company’s stock worth $36,000 after acquiring an additional 169 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Trip.com Group during the 3rd quarter worth approximately $38,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Trip.com Group by 443.5% during the 4th quarter. Farther Finance Advisors LLC now owns 625 shares of the company’s stock worth $43,000 after acquiring an additional 510 shares during the last quarter. 35.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCOM. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of Trip.com Group in a research note on Tuesday, February 25th. Hsbc Global Res raised Trip.com Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. reduced their price objective on Trip.com Group from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Barclays raised their price objective on Trip.com Group from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Macquarie raised their price objective on Trip.com Group from $75.40 to $80.80 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $77.08.

Trip.com Group Trading Down 0.9 %

Shares of NASDAQ:TCOM opened at $66.09 on Wednesday. Trip.com Group Limited has a 12-month low of $38.23 and a 12-month high of $77.18. The business’s fifty day simple moving average is $65.78 and its 200-day simple moving average is $63.57. The company has a market capitalization of $42.57 billion, a PE ratio of 19.79, a P/E/G 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 Announces Dividend

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

Trip.com Group 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.