Hsbc Holdings PLC Cuts Stock Holdings in Trip.com Group Limited (NASDAQ:TCOM)

Hsbc Holdings PLC reduced its position in Trip.com Group Limited (NASDAQ:TCOM) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 362,633 shares of the company’s stock after selling 29,621 shares during the period. Hsbc Holdings PLC owned about 0.06% of Trip.com Group worth $17,042,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Trip.com Group during the fourth quarter valued at $15,664,000. Trexquant Investment LP purchased a new stake in shares of Trip.com Group during the 4th quarter valued at about $1,059,000. Assetmark Inc. boosted its holdings in shares of Trip.com Group by 12.9% during the 4th quarter. Assetmark Inc. now owns 26,414 shares of the company’s stock valued at $951,000 after acquiring an additional 3,025 shares during the last quarter. US Bancorp DE raised its holdings in shares of Trip.com Group by 209.7% during the fourth quarter. US Bancorp DE now owns 21,141 shares of the company’s stock valued at $761,000 after purchasing an additional 14,314 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Trip.com Group by 14.5% during the fourth quarter. Parallel Advisors LLC now owns 3,396 shares of the company’s stock valued at $122,000 after purchasing an additional 430 shares during the period. 35.41% of the stock is owned by institutional investors.

Trip.com Group Stock Up 2.6 %

NASDAQ TCOM opened at $48.66 on Monday. Trip.com Group Limited has a 52 week low of $31.55 and a 52 week high of $58.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $31.34 billion, a P/E ratio of 21.92 and a beta of 0.39. The stock’s 50-day moving average price is $44.68 and its 200-day moving average price is $47.80.

Trip.com Group (NASDAQ:TCOM) last released its earnings results on Monday, August 26th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. Trip.com Group had a net margin of 28.78% and a return on equity of 11.52%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. On average, equities research analysts predict that Trip.com Group Limited will post 2.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TCOM. TD Cowen decreased their target price on shares of Trip.com Group from $63.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Benchmark reiterated a “buy” rating and set a $72.00 price objective on shares of Trip.com Group in a research report on Tuesday, August 27th. Finally, StockNews.com cut Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.50.

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.