Trip.com Group (NASDAQ:TCOM) Shares Down 2.9% - Here's Why

Trip.com Group Limited (NASDAQ:TCOM - Get Free Report)'s stock price traded down 2.9% on Friday . The company traded as low as $59.59 and last traded at $60.15. 483,150 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 3,917,328 shares. The stock had previously closed at $61.98.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Trip.com Group from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their target price on Trip.com Group from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Mizuho raised Trip.com Group to a "strong-buy" rating in a report on Friday, May 2nd. Wall Street Zen downgraded Trip.com Group from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Benchmark reissued a "buy" rating and issued a $80.00 target price on shares of Trip.com Group in a report on Tuesday, May 20th. One investment 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, Trip.com Group has a consensus rating of "Buy" and a consensus price target of $77.25.

Trip.com Group Stock Up 2.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.42 and a current ratio of 1.42. The firm's 50-day moving average is $59.90 and its 200 day moving average is $64.37. The firm has a market capitalization of $40.74 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 0.67 and a beta of 0.09.

Institutional Investors Weigh In On Trip.com Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. abrdn plc raised its stake in Trip.com Group by 0.5% in the 4th quarter. abrdn plc now owns 29,598 shares of the company's stock valued at $2,032,000 after purchasing an additional 150 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Trip.com Group by 0.7% during the 1st quarter. Cetera Investment Advisers now owns 22,704 shares of the company's stock valued at $1,444,000 after acquiring an additional 166 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Trip.com Group by 46.8% during the 4th quarter. Principal Securities Inc. now owns 530 shares of the company's stock valued at $36,000 after acquiring an additional 169 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Trip.com Group by 1.6% during the 4th quarter. Rhumbline Advisers now owns 12,014 shares of the company's stock valued at $825,000 after acquiring an additional 184 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Trip.com Group by 4.3% during the 4th quarter. Blair William & Co. IL now owns 5,349 shares of the company's stock valued at $367,000 after acquiring an additional 219 shares during the last quarter. 35.41% of the stock is currently owned by hedge funds and other 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.