Edmond DE Rothschild Holding S.A. has reduced its investment in Trip.com Group Limited by 12.4% during the second quarter of 2024. According to a filing with the U.S. Securities and Exchange Commission, the firm sold 6,500 shares, bringing its total holdings to 45,972 shares valued at approximately $2.7 million at the end of the reporting period.
This decision is part of a broader trend among institutional investors who are reassessing their positions in the travel services provider. ARGA Investment Management LP, for instance, increased its stake in Trip.com Group by an impressive 41.2% during the same quarter. This move resulted in ARGA owning 6,044,104 shares, valued at around $354.4 million following the acquisition of an additional 1,763,562 shares.
In a similar vein, Davis Selected Advisers raised its holdings by 29.8% in the first quarter, accumulating 4,862,997 shares worth about $309.2 million. The National Bank of Canada FI made a significant increase in its position, growing by an extraordinary 220,646.1% to own 1,019,847 shares valued at approximately $64.8 million. Voya Investment Management LLC also augmented its investment by 41.4%, now possessing 2,979,370 shares worth around $189.4 million.
The institutional ownership of Trip.com Group now stands at 35.41%, highlighting the significant interest in the company among large investors.
Market Performance and Analyst Insights
As of Wednesday, the shares of Trip.com Group, traded under the ticker symbol TCOM on NASDAQ, opened at $70.30. The stock has experienced a one-year low of $51.35 and a high of $78.65. The company’s 50-day moving average is $72.63, while the 200-day moving average sits at $66.84.
Trip.com Group’s financial metrics show a current ratio of 1.33, a quick ratio of 1.33, and a debt-to-equity ratio of 0.07. With a market capitalization of approximately $45.92 billion, the company’s price-to-earnings (P/E) ratio is reported at 19.26.
Analysts have been setting new price targets for Trip.com Group as they evaluate the company’s potential in a recovering travel market. The firm’s diverse offerings include accommodation reservations, transportation ticketing, and corporate travel management, positioning it well for growth as global travel demand increases.
Trip.com Group Limited operates not just in China but internationally, providing services such as hotel bookings, air ticket sales, and travel insurance. With a focus on enhancing customer experience, the company offers features like online check-in, seat selection, and real-time flight tracking.
As the travel industry continues to rebound from pandemic disruptions, Trip.com Group remains a key player, attracting significant interest from institutional investors and analysts alike.
