MakeMyTrip (NASDAQ:MMYT) Trading 2.2% Higher

Shares of MakeMyTrip Limited (NASDAQ:MMYT) were up 2.2% during mid-day trading on Thursday . The stock traded as high as $89.38 and last traded at $88.84. Approximately 184,739 shares were traded during trading, a decline of 75% from the average daily volume of 739,252 shares. The stock had previously closed at $86.91.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup boosted their target price on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America raised their price target on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.

MakeMyTrip Trading Up 3.3 %

The stock has a market cap of $9.86 billion, a PE ratio of 53.57, a PEG ratio of 5.88 and a beta of 1.28. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $96.10 and its 200 day moving average price is $83.57.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. The business had revenue of $254.52 million during the quarter, compared to analyst estimates of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. On average, sell-side analysts forecast that MakeMyTrip Limited will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MMYT. EverSource Wealth Advisors LLC raised its stake in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after buying an additional 332 shares during the last quarter. Fifth Third Bancorp purchased a new stake in MakeMyTrip during the second quarter valued at $59,000. nVerses Capital LLC bought a new position in MakeMyTrip in the second quarter valued at about $143,000. LRI Investments LLC purchased a new position in MakeMyTrip in the first quarter worth about $149,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of MakeMyTrip during the 2nd quarter valued at about $269,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.