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 Friday . The stock had previously closed at $73.06, but opened at $71.48. Trip.com Group shares last traded at $71.19, with a volume of 635,128 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TCOM. Barclays lifted their target price on shares of Trip.com Group from $76.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Mizuho raised their price objective on shares of Trip.com Group from $65.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. 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. Macquarie upped their target price on shares of Trip.com Group from $75.40 to $80.80 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Hsbc Global Res raised Trip.com Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trip.com Group has an average rating of “Buy” and a consensus price target of $74.18.

Trip.com Group Stock Performance

The company’s fifty day moving average price is $66.72 and its two-hundred day moving average price is $55.28. The firm has a market capitalization of $45.68 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.10 and a beta of 0.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.42 and a current ratio of 1.42.

Hedge Funds Weigh In On Trip.com Group

Hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Trip.com Group by 16.5% in the second quarter. Raymond James & Associates now owns 37,573 shares of the company’s stock valued at $1,766,000 after acquiring an additional 5,324 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Trip.com Group during the 2nd quarter worth about $524,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Trip.com Group in the second quarter valued at approximately $74,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Trip.com Group in the second quarter valued at approximately $66,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Trip.com Group by 79.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 279,782 shares of the company’s stock valued at $13,149,000 after buying an additional 123,693 shares in the last quarter. Institutional investors and hedge funds 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.