MakeMyTrip (NASDAQ:MMYT) Shares Down 3.7% – Should You Sell?

MakeMyTrip Limited (NASDAQ:MMYT) traded down 3.7% during mid-day trading on Tuesday . The company traded as low as $113.31 and last traded at $113.57. 36,222 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 315,375 shares. The stock had previously closed at $117.99.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America raised their price target on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Stock Performance

The firm has a 50 day moving average price of $111.09 and a 200 day moving average price of $100.47. The stock has a market cap of $12.52 billion, a PE ratio of 62.33, a price-to-earnings-growth ratio of 6.59 and a beta of 1.29. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, research analysts forecast that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Trading of MakeMyTrip

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in 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 valued at $2,583,000 after purchasing an additional 324 shares during the period. Acadian Asset Management LLC increased its holdings in shares of MakeMyTrip by 27.1% during the 2nd quarter. Acadian Asset Management LLC now owns 343,235 shares of the technology company’s stock worth $28,854,000 after buying an additional 73,092 shares during the last quarter. Caprock Group LLC purchased a new stake in MakeMyTrip in the 2nd quarter valued at about $295,000. Thornburg Investment Management Inc. raised its position in MakeMyTrip by 0.8% in the second 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. Finally, CoreCap Advisors LLC acquired a new stake in shares of MakeMyTrip during the second quarter worth about $500,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

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.