MakeMyTrip (NASDAQ:MMYT) Lowered to Sell Rating by StockNews.com

MakeMyTrip (NASDAQ:MMYT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

MMYT has been the subject of a number of other research reports. Bank of America upped their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup increased their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

MakeMyTrip Stock Down 3.5 %

Shares of MMYT stock traded down $3.65 during midday trading on Monday, reaching $99.54. 473,211 shares of the stock were exchanged, compared to its average volume of 731,360. 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 firm has a market cap of $10.93 billion, a PE ratio of 54.39, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27. The company’s 50 day moving average is $99.74 and its two-hundred day moving average is $88.94. MakeMyTrip has a 1 year low of $39.20 and a 1 year high of $110.49.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS 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 firm had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $214.90 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, equities research analysts predict that MakeMyTrip will post 1.27 EPS for the current year.

Institutional Trading of MakeMyTrip

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in shares of MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after acquiring an additional 1,879,726 shares during the period. William Blair Investment Management LLC grew its stake in MakeMyTrip by 54.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock worth $92,431,000 after buying an additional 387,695 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of MakeMyTrip by 129.2% in the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after buying an additional 539,067 shares during the last quarter. Sei Investments Co. grew its stake in shares of MakeMyTrip by 39.7% in the 2nd quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock valued at $38,599,000 after purchasing an additional 130,424 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in MakeMyTrip by 143.2% during the 1st quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock worth $32,574,000 after buying an additional 269,988 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other 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.