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

StockNews.com downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a report released on Friday morning.

Separately, Bank of America upped their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 27th.

MakeMyTrip Stock Down 0.3 %

Shares of NASDAQ MMYT opened at $109.07 on Friday. The firm’s 50-day moving average price is $111.92 and its 200-day moving average price is $102.54. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 59.60, a P/E/G ratio of 5.55 and a beta of 1.29. MakeMyTrip has a 12-month low of $47.52 and a 12-month high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last posted 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%. On average, equities research analysts anticipate that MakeMyTrip will post 1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

A number of hedge funds and other institutional investors have recently modified their holdings of MMYT. Natixis Advisors LLC purchased a new position in shares of MakeMyTrip in the third quarter worth $1,219,000. Citigroup Inc. raised its holdings in shares of MakeMyTrip by 154.3% in the third quarter. Citigroup Inc. now owns 60,123 shares of the technology company’s stock worth $5,588,000 after buying an additional 36,476 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of MakeMyTrip in the third quarter worth $674,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of MakeMyTrip in the third quarter worth $1,134,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of MakeMyTrip in the second quarter worth $879,000. 51.89% of the stock is currently owned by institutional investors.

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.