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

Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Get Free Report) 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.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Trip.com Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Bank of America raised their price objective on Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. TD Securities raised their price objective on Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Benchmark reissued a "buy" rating and set a $80.00 price objective on shares of Trip.com Group in a research report on Tuesday, May 20th. Finally, Mizuho raised Trip.com Group to a "strong-buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Trip.com Group has a consensus rating of "Buy" and an average target price of $77.25.

Trip.com Group Stock Performance

The stock has a 50-day simple moving average of $60.68 and a 200 day simple moving average of $64.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $36.49 billion, a PE ratio of 16.19, a P/E/G ratio of 2.62 and a beta of 0.09.

Institutional Trading of Trip.com Group

Several large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI grew its holdings in shares of Trip.com Group by 227.7% in the 4th quarter. National Bank of Canada FI now owns 462 shares of the company's stock worth $32,000 after acquiring an additional 321 shares during the last quarter. Rakuten Securities Inc. grew its stake in Trip.com Group by 1,496.7% in the fourth quarter. Rakuten Securities Inc. now owns 479 shares of the company's stock valued at $33,000 after purchasing an additional 449 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Trip.com Group in the first quarter valued at about $32,000. Principal Securities Inc. grew its stake in Trip.com Group by 46.8% in the fourth quarter. Principal Securities Inc. now owns 530 shares of the company's stock valued at $36,000 after purchasing an additional 169 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Trip.com Group by 384.6% in the first quarter. NewEdge Advisors LLC now owns 567 shares of the company's stock valued at $36,000 after purchasing an additional 450 shares in the last quarter. 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.