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

Trip.com Group Limited (NASDAQ:TCOM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $63.64, but opened at $61.00. Trip.com Group shares last traded at $59.86, with a volume of 1,159,584 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on TCOM. TD Cowen decreased 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 research note on Tuesday, August 27th. HSBC cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Macquarie upgraded shares of Trip.com Group to a “strong-buy” rating in a research note on Monday, October 7th. Hsbc Global Res cut shares of Trip.com Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, StockNews.com cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trip.com Group presently has a consensus rating of “Moderate Buy” and an average price target of $64.63.

Trip.com Group Price Performance

The stock’s 50-day simple moving average is $50.79 and its two-hundred day simple moving average is $49.88. The company has a market capitalization of $38.29 billion, a price-to-earnings ratio of 26.78 and a beta of 0.41. 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 issued its earnings results on Monday, August 26th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Trip.com Group had a net margin of 28.78% and a return on equity of 11.52%. Equities research analysts predict that Trip.com Group Limited will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Trip.com Group

A number of hedge funds have recently modified their holdings of TCOM. Fifth Third Bancorp grew its holdings in shares of Trip.com Group by 1,188.0% in the second quarter. Fifth Third Bancorp now owns 1,069 shares of the company’s stock valued at $50,000 after purchasing an additional 986 shares during the period. Hilltop National Bank grew its holdings in shares of Trip.com Group by 322.1% in the second quarter. Hilltop National Bank now owns 1,148 shares of the company’s stock valued at $54,000 after purchasing an additional 876 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Trip.com Group by 72.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,165 shares of the company’s stock valued at $55,000 after purchasing an additional 489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Trip.com Group during the second quarter worth about $66,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Trip.com Group during the second quarter worth about $74,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

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.