MakeMyTrip (NASDAQ:MMYT) Reaches New 1-Year High – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $116.88 and last traded at $115.10, with a volume of 79309 shares changing hands. The stock had previously closed at $114.74.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MMYT. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America raised their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

MakeMyTrip Trading Down 1.3 %

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 business’s fifty day simple moving average is $103.02 and its two-hundred day simple moving average is $93.87. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 62.70, a PEG ratio of 6.45 and a beta of 1.27.

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

Hedge Funds Weigh In On MakeMyTrip

Hedge funds have recently modified their holdings of the business. Natixis Advisors LLC purchased a new position in MakeMyTrip in the 3rd quarter valued at $1,219,000. GSA Capital Partners LLP purchased a new position in MakeMyTrip in the 3rd quarter valued at $674,000. Vanguard Group Inc. purchased a new position in MakeMyTrip in the 1st quarter valued at $2,317,000. 1832 Asset Management L.P. purchased a new position in MakeMyTrip in the 2nd quarter valued at $879,000. Finally, U S Global Investors Inc. grew its position in MakeMyTrip by 7.2% in the 3rd quarter. U S Global Investors Inc. now owns 105,335 shares of the technology company’s stock valued at $9,791,000 after buying an additional 7,114 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

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.