Investors Buy Shares of Ctrip.com International, Ltd. (CTRP) on Weakness on Disappointing Earnings
Traders purchased shares of Ctrip.com International, Ltd. (NASDAQ:CTRP) on weakness during trading hours on Thursday following a dissappointing earnings announcement. $265.43 million flowed into the stock on the tick-up and $172.55 million flowed out of the stock on the tick-down, for a money net flow of $92.88 million into the stock. Of all companies tracked, Ctrip.com International had the 3rd highest net in-flow for the day. Ctrip.com International traded down ($1.27) for the day and closed at $51.45The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.11. Ctrip.com International had a return on equity of 0.29% and a net margin of 0.95%. The firm had revenue of $946.38 million during the quarter, compared to analyst estimates of $929.55 million. During the same period in the previous year, the company earned $0.02 EPS. Ctrip.com International’s revenue for the quarter was up 42.5% on a year-over-year basis.
CTRP has been the topic of a number of analyst reports. BidaskClub lowered Ctrip.com International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Cowen and Company reiterated a “buy” rating and issued a $60.00 price target on shares of Ctrip.com International in a research report on Tuesday, August 22nd. Zacks Investment Research lowered Ctrip.com International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Daiwa Capital Markets reiterated a “buy” rating and issued a $65.00 price target (up previously from $55.00) on shares of Ctrip.com International in a research report on Sunday, May 14th. Finally, Bank of America Corporation set a $64.00 price target on Ctrip.com International and gave the company a “buy” rating in a research report on Friday, May 12th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.02.
Large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its position in Ctrip.com International by 0.5% in the first quarter. IHT Wealth Management LLC now owns 3,202 shares of the company’s stock worth $157,000 after buying an additional 15 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Ctrip.com International by 1.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,646 shares of the company’s stock worth $143,000 after buying an additional 46 shares during the period. American International Group Inc. increased its position in Ctrip.com International by 0.3% in the first quarter. American International Group Inc. now owns 23,512 shares of the company’s stock worth $1,156,000 after buying an additional 63 shares during the period. Baldwin Investment Management LLC increased its position in Ctrip.com International by 2.0% in the second quarter. Baldwin Investment Management LLC now owns 4,283 shares of the company’s stock worth $231,000 after buying an additional 85 shares during the period. Finally, Rathbone Brothers plc increased its position in Ctrip.com International by 2.8% in the second quarter. Rathbone Brothers plc now owns 4,255 shares of the company’s stock worth $229,000 after buying an additional 115 shares during the period. Institutional investors own 67.62% of the company’s stock.
Ctrip.com International also was the recipient of unusually large options trading on Wednesday. Stock investors bought 8,475 put options on the company. This is an increase of 351% compared to the average volume of 1,880 put options.
Ctrip.com International Company Profile
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. The Company aggregates hotel and transportation information to enable business and leisure travelers to make bookings. It helps leisure travelers book tour packages and guided tours, and helps corporate clients manage their travel requirements.
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