MakeMyTrip (NASDAQ:MMYT) Cut to “Sell” at StockNews.com

MakeMyTrip (NASDAQ:MMYT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Bank of America raised their price objective on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Price Performance

MMYT traded down $0.37 during trading on Friday, hitting $109.07. 1,047,010 shares of the stock traded hands, compared to its average volume of 735,881. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. MakeMyTrip has a twelve month low of $47.52 and a twelve month high of $123.00. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 5.55 and a beta of 1.29. The business has a 50 day moving average price of $111.92 and a 200 day moving average price of $102.37.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data 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 11.54% and a net margin of 26.64%. Equities research analysts forecast that MakeMyTrip will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in MakeMyTrip by 51.2% during the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after acquiring an additional 1,230,916 shares during the last quarter. Jennison Associates LLC boosted its position in shares of MakeMyTrip by 282.4% during the 3rd 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. The Manufacturers Life Insurance Company grew its stake in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after purchasing an additional 107,814 shares during the period. Janus Henderson Group PLC increased its holdings in MakeMyTrip by 1.3% in the third quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company’s stock worth $47,258,000 after purchasing an additional 6,378 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in shares of MakeMyTrip during the 3rd quarter worth approximately $44,521,000. Institutional investors and hedge funds 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.