Trip.com Group (NASDAQ:TCOM) Shares Gap Down – Here’s What Happened

Trip.com Group Limited (NASDAQ:TCOM)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $68.66, but opened at $66.42. Trip.com Group shares last traded at $66.12, with a volume of 770,677 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on TCOM shares. HSBC upgraded shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised Trip.com Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Citigroup boosted their target price on Trip.com Group from $73.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday. Macquarie increased their price target on shares of Trip.com Group from $75.40 to $80.80 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, TD Cowen boosted their price objective on shares of Trip.com Group from $56.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $74.78.

Trip.com Group Stock Performance

The stock has a market cap of $43.54 billion, a PE ratio of 20.24, a P/E/G ratio of 1.10 and a beta of 0.38. The firm’s 50-day moving average is $67.54 and its 200 day moving average is $56.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.42 and a current ratio of 1.42.

Institutional Investors Weigh In On Trip.com Group

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Trip.com Group by 32.8% during the third quarter. FMR LLC now owns 11,123,783 shares of the company’s stock worth $661,086,000 after buying an additional 2,749,365 shares during the last quarter. Sanders Capital LLC lifted its position in Trip.com Group by 34.7% during the 3rd quarter. Sanders Capital LLC now owns 9,566,403 shares of the company’s stock worth $568,531,000 after acquiring an additional 2,462,767 shares during the period. ARGA Investment Management LP grew its stake in shares of Trip.com Group by 46.9% in the 3rd quarter. ARGA Investment Management LP now owns 5,899,404 shares of the company’s stock valued at $350,602,000 after purchasing an additional 1,884,044 shares during the last quarter. Cantillon Capital Management LLC increased its holdings in shares of Trip.com Group by 14.9% in the third quarter. Cantillon Capital Management LLC now owns 4,868,383 shares of the company’s stock valued at $289,328,000 after purchasing an additional 629,508 shares during the period. Finally, CoreView Capital Management Ltd raised its stake in shares of Trip.com Group by 15.8% during the third quarter. CoreView Capital Management Ltd now owns 4,676,166 shares of the company’s stock worth $277,905,000 after purchasing an additional 639,000 shares during the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

Trip.com Group Company Profile

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.