MakeMyTrip (NASDAQ:MMYT) Sees Strong Trading Volume

MakeMyTrip Limited (NASDAQ:MMYT) shares saw an uptick in trading volume on Tuesday . 1,543,725 shares changed hands during mid-day trading, an increase of 100% from the previous session’s volume of 772,628 shares.The stock last traded at $68.16 and had previously closed at $67.77.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MMYT. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Macquarie downgraded MakeMyTrip from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $60.00 in a research note on Wednesday, February 21st.

MakeMyTrip Price Performance

The company has a 50-day moving average price of $64.99 and a 200-day moving average price of $52.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market capitalization of $7.03 billion, a P/E ratio of 147.33 and a beta of 1.23.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently made changes to their positions in the company. FIL Ltd increased its holdings in MakeMyTrip by 1.2% in the fourth quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after purchasing an additional 74,951 shares during the period. Artisan Partners Limited Partnership increased its stake in MakeMyTrip by 64.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after buying an additional 1,357,884 shares during the last quarter. FMR LLC increased its stake in MakeMyTrip by 378.4% in the 3rd quarter. FMR LLC now owns 2,620,190 shares of the technology company’s stock valued at $106,170,000 after buying an additional 2,072,504 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of MakeMyTrip by 39.2% during the 4th quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after purchasing an additional 734,336 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in MakeMyTrip by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 2,284,324 shares of the technology company’s stock valued at $107,318,000 after buying an additional 10,099 shares in the last quarter. 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.