MakeMyTrip (NASDAQ:MMYT) Trading Up 3.4% – Here’s Why

MakeMyTrip Limited (NASDAQ:MMYT)’s share price rose 3.4% during mid-day 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.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MMYT shares. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America lifted their price target on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 27th.

MakeMyTrip Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88. The company has a 50-day moving average of $109.01 and a 200-day moving average of $105.23. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 50.72, a P/E/G ratio of 6.56 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share 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%. As a group, equities research analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently modified their holdings of MMYT. Armis Advisers LLC purchased a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $273,000. Public Employees Retirement System of Ohio acquired a new stake in shares of MakeMyTrip during the fourth quarter worth $2,183,000. Palisades Investment Partners LLC grew its position in shares of MakeMyTrip by 9.7% in the fourth quarter. Palisades Investment Partners LLC now owns 129,205 shares of the technology company’s stock valued at $14,507,000 after purchasing an additional 11,439 shares during the period. Squarepoint Ops LLC increased its stake in MakeMyTrip by 103.1% in the fourth quarter. Squarepoint Ops LLC now owns 6,105 shares of the technology company’s stock valued at $685,000 after purchasing an additional 3,099 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in MakeMyTrip in the fourth quarter valued at $2,136,000. 51.89% of the stock is owned by institutional investors and hedge funds.

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.