Ctrip.com International, Ltd. (NASDAQ:CTRP) was the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 25,674,248 shares, a drop of 5.9% from the July 31st total of 27,283,412 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average daily volume of 4,263,282 shares, the days-to-cover ratio is currently 6.0 days.
Large investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. boosted its stake in Ctrip.com International by 13.8% in the first quarter. Sit Investment Associates Inc. now owns 4,125 shares of the company’s stock valued at $203,000 after buying an additional 500 shares during the period. Sumitomo Life Insurance Co. boosted its stake in Ctrip.com International by 137.2% in the first quarter. Sumitomo Life Insurance Co. now owns 10,200 shares of the company’s stock valued at $501,000 after buying an additional 5,900 shares during the period. Strs Ohio boosted its stake in Ctrip.com International by 5.3% in the first quarter. Strs Ohio now owns 45,600 shares of the company’s stock valued at $2,241,000 after buying an additional 2,300 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Ctrip.com International by 46.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 125,328 shares of the company’s stock valued at $6,160,000 after buying an additional 39,468 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Ctrip.com International by 2,487.1% in the first quarter. Canada Pension Plan Investment Board now owns 441,884 shares of the company’s stock valued at $21,719,000 after buying an additional 424,804 shares during the period. 66.43% of the stock is owned by institutional investors.
CTRP has been the subject of several recent research reports. Cowen and Company reaffirmed a “buy” rating and set a $60.00 price target on shares of Ctrip.com International in a report on Wednesday, July 19th. Instinet reaffirmed a “buy” rating and set a $64.00 price target on shares of Ctrip.com International in a report on Monday, May 15th. Daiwa Capital Markets reaffirmed a “buy” rating and set a $65.00 price target (up from $55.00) on shares of Ctrip.com International in a report on Sunday, May 14th. Bank of America Corporation set a $64.00 price target on Ctrip.com International and gave the stock a “buy” rating in a report on Friday, May 12th. Finally, BidaskClub downgraded Ctrip.com International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $57.55.
Ctrip.com International (NASDAQ:CTRP) opened at 52.4800 on Friday. Ctrip.com International has a 1-year low of $39.71 and a 1-year high of $60.65.
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About Ctrip.com International
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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