MakeMyTrip (NASDAQ:MMYT) Stock Price Down 7.8% – Time to Sell?

MakeMyTrip Limited (NASDAQ:MMYT) shares traded down 7.8% during mid-day trading on Thursday . The company traded as low as $104.44 and last traded at $104.58. 396,823 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 729,561 shares. The stock had previously closed at $113.45.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America increased their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Citigroup raised their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Trading Up 2.7 %

The firm has a market cap of $11.73 billion, a P/E ratio of 58.37, a price-to-earnings-growth ratio of 6.38 and a beta of 1.27. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $100.52 and its 200 day simple moving average is $89.82.

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

Institutional Trading of MakeMyTrip

Hedge funds and other institutional investors have recently modified their holdings of the business. Entropy Technologies LP bought a new stake in shares of MakeMyTrip in the first quarter valued at approximately $472,000. Tidal Investments LLC bought a new stake in shares of MakeMyTrip in the first quarter valued at approximately $3,891,000. Vanguard Group Inc. bought a new stake in MakeMyTrip during the 1st quarter worth approximately $2,317,000. 1832 Asset Management L.P. bought a new stake in MakeMyTrip during the 2nd quarter worth approximately $879,000. Finally, Russell Investments Group Ltd. increased its holdings in MakeMyTrip by 117.5% during the 1st quarter. Russell Investments Group Ltd. now owns 234,203 shares of the technology company’s stock worth $16,640,000 after acquiring an additional 126,505 shares during the period. 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.