Trip.com Group (NASDAQ:TCOM) Shares Gap Down - Here's Why

Trip.com Group Limited (NASDAQ:TCOM - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $71.27, but opened at $68.95. Trip.com Group shares last traded at $68.66, with a volume of 2,201,478 shares traded.

Analysts Set New Price Targets

Several analysts have recently commented on TCOM shares. Barclays increased their price target on shares of Trip.com Group from $76.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Citigroup increased their price objective on shares of Trip.com Group from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Hsbc Global Res upgraded Trip.com Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 19th. StockNews.com upgraded Trip.com Group from a "hold" rating to a "buy" rating in a research note on Wednesday, November 20th. Finally, Mizuho lifted their price objective on Trip.com Group from $65.00 to $78.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Trip.com Group has an average rating of "Buy" and a consensus target price of $74.78.

Trip.com Group Price Performance

The business has a fifty day moving average of $69.29 and a 200 day moving average of $59.47. 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 stock has a market cap of $44.58 billion, a PE ratio of 20.72, a P/E/G ratio of 0.69 and a beta of 0.37.

Hedge Funds Weigh In On Trip.com Group

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised 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 purchasing an additional 2,749,365 shares during the period. Sanders Capital LLC raised its stake in Trip.com Group by 34.7% during the third 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. Aspex Management HK Ltd bought a new position in Trip.com Group in the third quarter worth about $128,962,000. Wellington Management Group LLP boosted its stake in Trip.com Group by 557.8% in the third quarter. Wellington Management Group LLP now owns 2,263,048 shares of the company's stock valued at $134,493,000 after acquiring an additional 1,919,006 shares during the period. Finally, ARGA Investment Management LP grew its holdings 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 valued at $350,602,000 after purchasing an additional 1,884,044 shares during the last quarter. 35.41% of the stock is currently owned by institutional investors.

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.