MakeMyTrip (NASDAQ:MMYT) Trading Down 6.9% – Time to Sell?

MakeMyTrip Limited (NASDAQ:MMYT) dropped 6.9% during trading on Tuesday . The company traded as low as $99.63 and last traded at $99.40. Approximately 213,546 shares were traded during trading, a decline of 59% from the average daily volume of 519,642 shares. The stock had previously closed at $106.80.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMYT. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America raised their price objective 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 Stock Performance

The business has a 50 day moving average price of $111.56 and a 200 day moving average price of $102.16. The stock has a market capitalization of $12.01 billion, a PE ratio of 59.80, a PEG ratio of 5.36 and a beta of 1.29. 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 (NASDAQ:MMYT) last announced 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 26.64% and a return on equity of 11.54%. As a group, equities research analysts expect that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB purchased a new stake in MakeMyTrip during the fourth quarter valued at $3,930,000. BOCHK Asset Management Ltd lifted its position in MakeMyTrip by 266.7% during the fourth quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock valued at $124,000 after purchasing an additional 800 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of MakeMyTrip by 1.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,616 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 400 shares during the period. R Squared Ltd purchased a new stake in shares of MakeMyTrip in the fourth quarter valued at $99,000. Finally, Matthews International Capital Management LLC raised its position in MakeMyTrip by 6.2% in the 4th quarter. Matthews International Capital Management LLC now owns 240,751 shares of the technology company’s stock worth $27,032,000 after purchasing an additional 13,952 shares during the period. 51.89% of the stock is 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.