California State Teachers Retirement System Acquires 17,496 Shares of Trip.com Group Limited (NASDAQ:TCOM)

California State Teachers Retirement System grew its holdings in shares of Trip.com Group Limited (NASDAQ:TCOM) by 195.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,450 shares of the company’s stock after acquiring an additional 17,496 shares during the period. California State Teachers Retirement System’s holdings in Trip.com Group were worth $938,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of Trip.com Group by 2.9% during the second quarter. Morgan Stanley now owns 45,175,053 shares of the company’s stock valued at $1,601,909,000 after acquiring an additional 1,252,885 shares during the last quarter. BlackRock Inc. increased its position in shares of Trip.com Group by 3.6% during the second quarter. BlackRock Inc. now owns 21,368,460 shares of the company’s stock worth $757,723,000 after buying an additional 751,051 shares during the period. Vanguard Group Inc. increased its position in shares of Trip.com Group by 8.6% during the second quarter. Vanguard Group Inc. now owns 18,386,894 shares of the company’s stock worth $651,999,000 after buying an additional 1,458,310 shares during the period. State Street Corp increased its position in shares of Trip.com Group by 5.3% during the second quarter. State Street Corp now owns 9,514,286 shares of the company’s stock worth $337,377,000 after buying an additional 476,990 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Trip.com Group by 4,951.3% during the second quarter. Bank of Montreal Can now owns 6,952,541 shares of the company’s stock worth $252,377,000 after buying an additional 6,814,903 shares during the period. 68.88% of the stock is owned by hedge funds and other institutional investors.

TCOM has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Trip.com Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 9th. HSBC decreased their price objective on shares of Trip.com Group from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Sunday, September 26th. CLSA decreased their price objective on shares of Trip.com Group from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, September 27th. Mizuho started coverage on shares of Trip.com Group in a research report on Friday, September 24th. They set a “buy” rating and a $42.00 price objective for the company. Finally, BTIG Research restated a “hold” rating on shares of Trip.com Group in a report on Tuesday, October 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $43.75.

NASDAQ:TCOM opened at $29.09 on Thursday. Trip.com Group Limited has a 12 month low of $23.61 and a 12 month high of $45.19. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 31.97 and a beta of 1.18. The firm has a fifty day simple moving average of $30.11 and a two-hundred day simple moving average of $31.76. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.23.

Trip.com Group (NASDAQ:TCOM) last posted its earnings results on Wednesday, September 22nd. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $1.17. Trip.com Group had a net margin of 18.09% and a return on equity of 1.28%. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the business posted ($0.39) EPS. The firm’s revenue was up 86.5% compared to the same quarter last year.

Trip.com Group Profile

Trip.com Group Ltd. engages in the provision of travel-related services. It provides hotel accommodations, airline tickets, packaged tours, corporate travel management services, property management systems and advertising services. The company was founded by Jian Zhang Liang, Min Fan, Nan Peng Shen and Qi Ji in June 1999 and is headquartered in Shanghai, China.

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Institutional Ownership by Quarter for Trip.com Group (NASDAQ:TCOM)

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