MakeMyTrip (NASDAQ:MMYT) Shares Down 3.6%

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price traded down 3.6% during mid-day trading on Wednesday . The company traded as low as $87.50 and last traded at $88.36. 354,510 shares were traded during mid-day trading, a decline of 52% from the average session volume of 734,823 shares. The stock had previously closed at $91.67.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MMYT shares. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup increased their price target on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.

MakeMyTrip Price Performance

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 company has a 50 day moving average of $96.18 and a 200-day moving average of $83.55. The stock has a market capitalization of $9.55 billion, a P/E ratio of 52.10, a PEG ratio of 5.88 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate 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 net margin of 26.11% and a return on equity of 11.04%. Sell-side analysts predict that MakeMyTrip Limited will post 1.38 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Institutional investors have recently made changes to their positions in the stock. Thornburg Investment Management Inc. boosted its position in MakeMyTrip by 0.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 204 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of MakeMyTrip by 44.1% during the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock valued at $65,000 after acquiring an additional 236 shares during the period. Bank of New York Mellon Corp grew its position in shares of MakeMyTrip by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock worth $2,583,000 after acquiring an additional 324 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of MakeMyTrip in the 2nd quarter worth about $59,000. Finally, Van ECK Associates Corp increased its holdings in shares of MakeMyTrip by 5.9% in the 2nd quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock worth $1,191,000 after acquiring an additional 791 shares during the period. 51.89% of the stock is owned by 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.