MakeMyTrip (NASDAQ:MMYT) Stock Price Up 3.4% – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price was up 3.4% during trading on Monday . The company traded as high as $103.60 and last traded at $101.20. Approximately 215,137 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 792,454 shares. The stock had previously closed at $97.87.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MMYT. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Bank of America upped their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, December 27th.

MakeMyTrip Trading Up 3.6 %

The company has a market capitalization of $11.13 billion, a P/E ratio of 55.08, a P/E/G ratio of 6.56 and a beta of 1.28. The stock has a 50 day moving average of $109.86 and a 200-day moving average of $105.19. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. On average, research analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in MakeMyTrip by 44.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,062 shares of the technology company’s stock valued at $23,708,000 after purchasing an additional 78,745 shares during the period. Van ECK Associates Corp grew its holdings in MakeMyTrip by 17.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,677 shares of the technology company’s stock valued at $1,653,000 after buying an additional 2,514 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of MakeMyTrip during the third quarter valued at approximately $232,000. Asset Management One Co. Ltd. purchased a new position in shares of MakeMyTrip in the third quarter worth $9,388,000. Finally, GSA Capital Partners LLP purchased a new position in shares of MakeMyTrip in the third quarter worth $674,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

About MakeMyTrip

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.