Edmond DE Rothschild Holding S.A. has reduced its stake in Trip.com Group Limited, selling 6,500 shares during the second quarter of 2023. This move decreased its holdings by 12.4%, leaving the firm with 45,972 shares. The value of these remaining shares stood at approximately $2.696 million as of the end of the reporting period.
This decision comes amid a broader trend observed among institutional investors regarding Trip.com Group. Notably, ARGA Investment Management LP increased its position in the company by 41.2%, acquiring an additional 1,763,562 shares to reach a total of 6,044,104 shares, valued at $354.426 million. Similarly, Davis Selected Advisers raised its stake by 29.8%, bringing its total to 4,862,997 shares worth $309.189 million after purchasing 1,115,836 shares in the previous quarter.
The activity does not stop there; National Bank of Canada FI demonstrated a remarkable increase in its position by 220,646.1% during the same period. With this boost, the bank now holds 1,019,847 shares, valued at $64.842 million, following the acquisition of over 1 million shares. Additionally, Voya Investment Management LLC raised its holdings by 41.4%, now owning 2,979,370 shares worth $189.428 million.
The increasing interest from institutional investors highlights the evolving dynamics within Trip.com Group’s shareholder structure, with approximately 35.41% of the stock currently owned by institutional stakeholders.
Current Stock Performance
On the trading front, shares of Trip.com Group Limited opened at $70.30 on Wednesday. The stock has fluctuated significantly over the past year, recording a low of $51.35 and a high of $78.65. The company’s 50-day moving average stands at $72.63, while the 200-day moving average is at $66.84. Trip.com Group currently holds a market capitalization of $45.92 billion and a price-to-earnings ratio of 19.26.
Investors are closely monitoring Trip.com Group’s financial health, indicated by its current ratio of 1.33 and a quick ratio of 1.33. Furthermore, the company maintains a low debt-to-equity ratio of 0.07, suggesting a strong balance sheet.
About Trip.com Group
Trip.com Group Limited operates as a comprehensive travel service provider, focusing on accommodation reservations, transportation ticketing, and corporate travel management, both in China and globally. The company serves as an agent for hotel transactions and air ticket sales while also offering train, long-distance bus, and ferry tickets. Additional services include travel insurance for flight delays, accidents, and baggage loss, as well as various customer conveniences like online check-in and real-time flight status tracking.
As institutional interest continues to shape the market for Trip.com Group, the company’s performance in the upcoming quarters will likely be a focal point for investors and analysts alike.
