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

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

Analysts Set New Price Targets

Several analysts have weighed in on TCOM shares. JPMorgan Chase & Co. lowered their target price on Trip.com Group from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Wall Street Zen cut shares of Trip.com Group from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. TD Securities upped their target price on Trip.com Group from $67.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Bank of America raised their price target 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. Finally, Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trip.com Group in a research report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, 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 50-day moving average of $59.95 and a 200-day moving average of $64.39. 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 has a market capitalization of $39.13 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 0.67 and a beta of 0.09.

Hedge Funds Weigh In On Trip.com Group

Several large investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its stake in shares of Trip.com Group by 227.7% in the fourth quarter. National Bank of Canada FI now owns 462 shares of the company's stock valued at $32,000 after buying an additional 321 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Trip.com Group in the 1st quarter valued at approximately $32,000. Rakuten Securities Inc. lifted its holdings in shares of Trip.com Group by 1,496.7% during the 4th quarter. Rakuten Securities Inc. now owns 479 shares of the company's stock worth $33,000 after acquiring an additional 449 shares during the period. Principal Securities Inc. boosted its position 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 worth $36,000 after acquiring an additional 169 shares in the last quarter. Finally, NewEdge Advisors LLC increased 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 acquiring an additional 450 shares during the last quarter. 35.41% of the stock is 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.

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