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

Trip.com Group Limited (NASDAQ:TCOM)’s stock price gapped down before the market opened 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 Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Macquarie lifted 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. Sanford C. Bernstein assumed coverage on shares of Trip.com Group in a research note on Monday, November 4th. They set an “outperform” rating and a $85.00 target price for the company. TD Cowen upped their price target 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. HSBC upgraded Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, November 19th. Finally, Barclays increased their target price on Trip.com Group from $76.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $74.78.

Trip.com Group Stock Performance

The stock has a market cap of $43.54 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a fifty day moving average of $67.54 and a 200 day moving average of $56.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Trip.com Group by 32.8% in the third quarter. FMR LLC now owns 11,123,783 shares of the company’s stock worth $661,086,000 after acquiring an additional 2,749,365 shares during the period. Sanders Capital LLC lifted its stake in shares of Trip.com Group by 34.7% in the 3rd 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 last quarter. ARGA Investment Management LP boosted its stake in 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 buying an additional 1,884,044 shares during the period. Cantillon Capital Management LLC boosted its position in shares of Trip.com Group by 14.9% during the 3rd 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 boosted its position 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 buying an additional 639,000 shares during the period. Hedge funds and other 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.