State of New Jersey Common Pension Fund D Trims Stake in Trip.com Group Limited (NASDAQ:TCOM)

State of New Jersey Common Pension Fund D reduced its position in Trip.com Group Limited (NASDAQ:TCOM) by 62.0% during the second quarter, HoldingsChannel.com reports. The firm owned 181,148 shares of the company’s stock after selling 296,005 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Trip.com Group were worth $8,514,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Trip.com Group by 1,188.0% during the second quarter. Fifth Third Bancorp now owns 1,069 shares of the company’s stock worth $50,000 after acquiring an additional 986 shares during the period. Hilltop National Bank increased its position in shares of Trip.com Group by 322.1% during the second quarter. Hilltop National Bank now owns 1,148 shares of the company’s stock worth $54,000 after acquiring an additional 876 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Trip.com Group during the second quarter worth approximately $66,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Trip.com Group during the second quarter worth approximately $74,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Trip.com Group during the first quarter worth approximately $74,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TCOM. Barclays raised their target price on shares of Trip.com Group from $60.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. StockNews.com lowered shares of Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Mizuho lifted their price objective on shares of Trip.com Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Benchmark reissued a “buy” rating and set a $72.00 price objective on shares of Trip.com Group in a report on Tuesday, August 27th. Finally, TD Cowen cut their price objective on shares of Trip.com Group from $63.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Trip.com Group currently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Trip.com Group Price Performance

Shares of TCOM opened at $47.29 on Friday. The company has a market cap of $30.46 billion, a price-to-earnings ratio of 21.30 and a beta of 0.39. Trip.com Group Limited has a twelve month low of $31.55 and a twelve month 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 50 day moving average of $44.93 and a two-hundred day moving average of $47.64.

About Trip.com Group

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.