MakeMyTrip (NASDAQ:MMYT) Trading Down 3.7% – Time to Sell?

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

Wall Street Analyst Weigh In

A number of research analysts have commented 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 upped their target price on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Trading Down 0.5 %

The stock’s 50 day moving average is $111.51 and its 200-day moving average is $100.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The company has a market capitalization of $12.33 billion, a P/E ratio of 61.37, a P/E/G ratio of 6.59 and a beta of 1.29.

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

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of MakeMyTrip by 51.2% in the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock worth $337,917,000 after acquiring an additional 1,230,916 shares in the last quarter. Jennison Associates LLC increased its stake in shares of MakeMyTrip by 282.4% during the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of MakeMyTrip by 54.5% during the second quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after purchasing an additional 387,695 shares during the last quarter. Marshall Wace LLP boosted its position in shares of MakeMyTrip by 129.2% in the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after purchasing an additional 539,067 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of MakeMyTrip by 20.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after buying an additional 107,814 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

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.