MakeMyTrip (NASDAQ:MMYT) Trading Down 6.9% – What’s Next?

Shares of MakeMyTrip Limited (NASDAQ:MMYT) were down 6.9% on Tuesday . The company traded as low as $99.63 and last traded at $99.40. Approximately 213,546 shares were traded during trading, a decline of 59% from the average daily volume of 519,642 shares. The stock had previously closed at $106.80.

Analyst Ratings Changes

MMYT has been the subject of a number of research analyst reports. Bank of America raised their target price on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, December 27th. StockNews.com cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Trading Down 7.1 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The stock has a 50-day moving average of $111.68 and a two-hundred day moving average of $102.06. The company has a market cap of $10.89 billion, a P/E ratio of 54.45, a price-to-earnings-growth ratio of 5.75 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $214.90 million. During the same period last year, the business earned $0.18 EPS. On average, equities research analysts predict that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Trading of MakeMyTrip

A number of institutional investors and hedge funds have recently modified their holdings of MMYT. Exchange Traded Concepts LLC boosted its position in shares of MakeMyTrip by 15.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 42,784 shares of the technology company’s stock valued at $4,804,000 after buying an additional 5,787 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of MakeMyTrip by 739.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 19,585 shares of the technology company’s stock valued at $2,199,000 after acquiring an additional 17,251 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MakeMyTrip in the fourth quarter worth approximately $1,591,000. SeaTown Holdings Pte. Ltd. purchased a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $11,258,000. Finally, USA Financial Formulas bought a new position in MakeMyTrip during the fourth quarter valued at approximately $35,000. 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.