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

Trip.com Group Limited (NASDAQ:TCOM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $68.39, but opened at $65.66. Trip.com Group shares last traded at $65.91, with a volume of 600,106 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TCOM. Sanford C. Bernstein started coverage on shares of Trip.com Group in a research report on Monday, November 4th. They issued an “outperform” rating and a $85.00 target price for the company. Barclays upped their price objective on shares of Trip.com Group from $76.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. HSBC raised shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Tuesday, November 19th. Macquarie upped their price objective on shares of Trip.com Group from $75.40 to $80.80 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded shares of Trip.com Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trip.com Group currently has an average rating of “Buy” and a consensus target price of $74.78.

Trip.com Group Stock Performance

The stock’s fifty day simple moving average is $69.35 and its 200-day simple moving average is $59.74. The company has a market capitalization of $42.73 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 0.69 and a beta of 0.37. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On Trip.com Group

Large investors have recently modified their holdings of the company. 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 increased 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 purchasing an additional 2,462,767 shares during the period. ARGA Investment Management LP raised its stake in shares of Trip.com Group by 46.9% during 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 last quarter. Cantillon Capital Management LLC lifted its holdings in shares of Trip.com Group by 14.9% during the third quarter. Cantillon Capital Management LLC now owns 4,868,383 shares of the company’s stock worth $289,328,000 after purchasing an additional 629,508 shares during the period. Finally, CoreView Capital Management Ltd grew its position in Trip.com Group by 15.8% in the 3rd quarter. CoreView Capital Management Ltd now owns 4,676,166 shares of the company’s stock valued at $277,905,000 after buying 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.