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

Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $60.67, but opened at $58.29. Trip.com Group shares last traded at $57.90, with a volume of 866,752 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on TCOM. TD Securities upped their price target on shares of Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Bank of America increased their price objective on shares of Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Mizuho raised shares of Trip.com Group to a "strong-buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Trip.com Group from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Wall Street Zen lowered shares of Trip.com Group from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $77.25.

Trip.com Group Price Performance

The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $36.94 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.81 and a beta of 0.09. The company's 50 day moving average is $60.62 and its 200 day moving average is $64.18.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC boosted its holdings in shares of Trip.com Group by 41.4% in the first quarter. Voya Investment Management LLC now owns 2,979,370 shares of the company's stock valued at $189,428,000 after acquiring an additional 872,630 shares in the last quarter. Pinnacle Investment Management Ltd acquired a new position in Trip.com Group during the first quarter worth about $1,272,000. Strs Ohio purchased a new stake in Trip.com Group in the 1st quarter worth approximately $8,191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Trip.com Group by 332.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,088 shares of the company's stock valued at $2,549,000 after acquiring an additional 30,819 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Trip.com Group in the 1st quarter valued at $400,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

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.