Allspring Global Investments Holdings LLC Sells 56,149 Shares of Trip.com Group Limited (NASDAQ:TCOM)

Allspring Global Investments Holdings LLC lessened its stake in shares of Trip.com Group Limited (NASDAQ:TCOM) by 3.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,573,408 shares of the company’s stock after selling 56,149 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trip.com Group were worth $93,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TCOM. Raymond James & Associates raised its holdings in shares of Trip.com Group by 9.1% during the third quarter. Raymond James & Associates now owns 40,998 shares of the company’s stock valued at $2,437,000 after purchasing an additional 3,425 shares during the period. Blue Trust Inc. raised its stake in Trip.com Group by 64.0% during the 3rd quarter. Blue Trust Inc. now owns 7,545 shares of the company’s stock worth $448,000 after buying an additional 2,944 shares during the period. Seven Grand Managers LLC acquired a new position in Trip.com Group during the 3rd quarter worth approximately $10,884,000. Creative Planning boosted its holdings in Trip.com Group by 1.7% in the third quarter. Creative Planning now owns 25,622 shares of the company’s stock worth $1,523,000 after acquiring an additional 423 shares in the last quarter. Finally, CWM LLC grew its stake in Trip.com Group by 10.4% in the third quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $138,000 after acquiring an additional 220 shares during the period. 35.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TCOM. StockNews.com cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Benchmark restated a “buy” rating and issued a $72.00 target price on shares of Trip.com Group in a report on Tuesday, August 27th. HSBC lowered Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. TD Cowen dropped their price objective on Trip.com Group from $63.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Macquarie upgraded shares of Trip.com Group to a “strong-buy” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.63.

Trip.com Group Trading Up 5.6 %

Shares of TCOM stock opened at $61.25 on Monday. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 27.59 and a beta of 0.41. The company’s fifty day simple moving average is $51.49 and its two-hundred day simple moving average is $50.05. Trip.com Group Limited has a 1 year low of $31.55 and a 1 year high of $69.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 1.32.

Trip.com Group (NASDAQ:TCOM) last released its quarterly earnings data on Monday, August 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. Trip.com Group had a return on equity of 11.52% and a net margin of 28.78%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. As a group, analysts anticipate that Trip.com Group Limited will post 2.93 earnings per share for the current year.

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.