Trip.com Group (NASDAQ:TCOM) Trading Down 3.2% – Here’s What Happened

Shares of Trip.com Group Limited (NASDAQ:TCOM) fell 3.2% during trading on Wednesday . The company traded as low as $61.53 and last traded at $61.94. 583,245 shares changed hands during trading, a decline of 86% from the average session volume of 4,033,057 shares. The stock had previously closed at $64.02.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TCOM. Macquarie raised shares of Trip.com Group to a “strong-buy” rating in a research note on Monday, October 7th. StockNews.com downgraded shares of Trip.com Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. HSBC downgraded shares of Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Citigroup increased their price objective on shares of Trip.com Group from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen lowered their target price on shares of Trip.com Group from $63.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.33.

Trip.com Group Stock Down 3.5 %

The firm’s 50-day moving average price is $58.85 and its 200 day moving average price is $51.97. The firm has a market cap of $38.60 billion, a P/E ratio of 21.71 and a beta of 0.39. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.15.

Trip.com Group (NASDAQ:TCOM) last posted its quarterly earnings data on Monday, August 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.22. Trip.com Group had a net margin of 28.78% and a return on equity of 11.52%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. As a group, research analysts expect that Trip.com Group Limited will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Trip.com Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCOM. Capital World Investors grew its holdings in Trip.com Group by 27.5% during the first quarter. Capital World Investors now owns 48,971,654 shares of the company’s stock valued at $2,149,366,000 after purchasing an additional 10,576,028 shares during the last quarter. FMR LLC raised its holdings in shares of Trip.com Group by 32.8% in the third quarter. FMR LLC now owns 11,123,783 shares of the company’s stock valued at $661,086,000 after buying an additional 2,749,365 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of Trip.com Group by 34.7% in the third quarter. Sanders Capital LLC now owns 9,566,403 shares of the company’s stock valued at $568,531,000 after buying an additional 2,462,767 shares during the last quarter. Capital International Investors increased its position in Trip.com Group by 0.4% in the first quarter. Capital International Investors now owns 7,941,645 shares of the company’s stock worth $348,559,000 after purchasing an additional 29,768 shares during the period. Finally, ARGA Investment Management LP increased its position in Trip.com Group by 46.9% in the third quarter. ARGA Investment Management LP now owns 5,899,404 shares of the company’s stock worth $350,602,000 after purchasing an additional 1,884,044 shares during the period. Institutional investors own 35.41% of the company’s stock.

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.