MakeMyTrip (NASDAQ:MMYT) Trading 6% Higher – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) shot up 6% on Monday . The stock traded as high as $117.67 and last traded at $115.78. 231,501 shares were traded during mid-day trading, a decline of 69% from the average session volume of 756,230 shares. The stock had previously closed at $109.27.

Wall Street Analyst Weigh In

MMYT has been the topic of a number of recent research reports. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Bank of America increased their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Trading Up 8.9 %

The stock has a market cap of $13.06 billion, a P/E ratio of 64.64, a PEG ratio of 7.05 and a beta of 1.29. The firm’s fifty day moving average price is $112.15 and its two-hundred day moving average price is $103.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. As a group, equities research analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently bought and sold shares of MMYT. Park Place Capital Corp bought a new position in shares of MakeMyTrip in the 3rd quarter worth $25,000. USA Financial Formulas bought a new position in MakeMyTrip in the fourth quarter valued at $35,000. Advisors Asset Management Inc. increased its stake in MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after acquiring an additional 225 shares during the last quarter. R Squared Ltd purchased a new stake in MakeMyTrip during the fourth quarter valued at about $99,000. Finally, BOCHK Asset Management Ltd lifted its stake in MakeMyTrip by 266.7% during the fourth quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock worth $124,000 after purchasing an additional 800 shares during the last quarter. 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.