Pinnacle Investment Management Ltd Invests $1.27 Million in Trip.com Group Limited Sponsored ADR $TCOM

Pinnacle Investment Management Ltd purchased a new stake in shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,000 shares of the company’s stock, valued at approximately $1,272,000. Trip.com Group accounts for 13.7% of Pinnacle Investment Management Ltd’s holdings, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in Trip.com Group by 0.7% during the first quarter. Cetera Investment Advisers now owns 22,704 shares of the company’s stock valued at $1,444,000 after buying an additional 166 shares during the period. Prudential PLC grew its position in Trip.com Group by 2.1% during the first quarter. Prudential PLC now owns 11,897 shares of the company’s stock valued at $756,000 after buying an additional 244 shares during the period. Baird Financial Group Inc. grew its position in Trip.com Group by 4.7% during the first quarter. Baird Financial Group Inc. now owns 5,828 shares of the company’s stock valued at $371,000 after buying an additional 261 shares during the period. Townsquare Capital LLC grew its position in Trip.com Group by 4.2% during the first quarter. Townsquare Capital LLC now owns 8,349 shares of the company’s stock valued at $531,000 after buying an additional 338 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Trip.com Group by 28.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,633 shares of the company’s stock valued at $104,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 35.41% of the company’s stock.

Analyst Ratings Changes

TCOM has been the topic of several analyst reports. Bank of America raised their price target on shares of Trip.com Group from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. TD Securities boosted their price objective on Trip.com Group from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Mizuho boosted their price objective on Trip.com Group from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of Trip.com Group in a research report on Tuesday, May 20th. Finally, Barclays boosted their price objective on Trip.com Group from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $76.98.

Trip.com Group Stock Up 3.2%

Shares of NASDAQ TCOM opened at $74.83 on Friday. The company’s 50-day simple moving average is $64.80 and its 200-day simple moving average is $61.93. Trip.com Group Limited Sponsored ADR has a 52-week low of $46.20 and a 52-week high of $77.18. The firm has a market cap of $48.88 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.99 and a beta of 0.03. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.07.

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.