The Manufacturers Life Insurance Company Sells 543,369 Shares of Trip.com Group Limited (NASDAQ:TCOM)

The Manufacturers Life Insurance Company lessened its position in Trip.com Group Limited (NASDAQ:TCOM) by 81.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,594 shares of the company’s stock after selling 543,369 shares during the period. The Manufacturers Life Insurance Company’s holdings in Trip.com Group were worth $7,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TCOM. Fifth Third Bancorp grew its position in shares of Trip.com Group by 1,188.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,069 shares of the company’s stock valued at $50,000 after acquiring an additional 986 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Trip.com Group by 72.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,165 shares of the company’s stock worth $55,000 after buying an additional 489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Trip.com Group during the 2nd quarter worth about $66,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Trip.com Group during the 2nd quarter worth about $74,000. Finally, CWM LLC boosted its holdings in shares of Trip.com Group by 13.5% during the 2nd quarter. CWM LLC now owns 2,107 shares of the company’s stock worth $99,000 after buying an additional 251 shares during the period. Institutional investors own 35.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TCOM. Hsbc Global Res raised shares of Trip.com Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Mizuho boosted their price objective on shares of Trip.com Group from $65.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. HSBC raised shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, November 19th. Citigroup boosted their price objective on shares of Trip.com Group from $66.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Macquarie boosted their price objective on shares of Trip.com Group from $75.40 to $80.80 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $74.18.

Trip.com Group Price Performance

Shares of NASDAQ:TCOM opened at $66.88 on Thursday. The firm has a 50 day moving average of $63.57 and a 200-day moving average of $53.09. The stock has a market capitalization of $43.08 billion, a PE ratio of 20.02, a PEG ratio of 0.98 and a beta of 0.38. Trip.com Group Limited has a 12 month low of $32.42 and a 12 month high of $69.67. 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 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.