Top 5 Stocks to Buy Today According to Kerr Neilson’s Platinum Asset Management

4. Trip.com Group Limited (NASDAQ:TCOM)

Platinum Asset Management’s Stake Value: $277,385,000

Percentage of Platinum Asset Management’s 13F Portfolio: 7.72%

Number of Hedge Fund Holders: 35

Trip.com Group Limited (NASDAQ:TCOM) is a Chinese travel service provider that helps clients with accommodation, ticketing, packaged tours, and other travel-related services in China and internationally. Kerr Neilson’s Platinum Asset Management boosted its stake in Trip.com Group Limited (NASDAQ:TCOM) by 9% in Q4 2021, with 11.2 million shares worth $277.3 million. 

On March 24, Mizuho analyst James Lee maintained a Buy recommendation on Trip.com Group Limited (NASDAQ:TCOM) but lowered the firm’s price target on the shares to $32 from $35. According to the analyst, Trip.com Group Limited (NASDAQ:TCOM)’s Q4 results exceeded expectations due to a better than expected rebound in travel volume and “prudent” margin management during uncertain times. However, due to higher omicron cases in March and continued implementation of the zero-tolerance policy, the analyst expects the company’s results to be “subdued” in the short-term and international travel to be limited for the foreseeable future.

According to Insider Monkey’s Q4 data, 35 hedge funds were long Trip.com Group Limited (NASDAQ:TCOM), compared to 36 funds in the previous quarter. Ken Fisher’s Fisher Asset Management is one of the leading shareholders of the company, with a position worth approximately $230 million. 

Here is what Oakmark Fund has to say about Trip.com Group Limited (NASDAQ:TCOM) in its Q3 2021 investor letter:

“Trip.com Group ADR (China), the largest online travel agency in China, and Reckitt Benckiser Group (U.K.), a large global consumer products company, were both previous holdings in the Fund. With significant declines in share price, the stocks again offered the necessary potential upside to be selected for our portfolio.”