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 Monday.

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

MakeMyTrip Stock Performance

Shares of MMYT opened at $113.45 on Monday. The company’s 50 day moving average price is $100.17 and its 200 day moving average price is $89.40. MakeMyTrip has a 52 week low of $39.20 and a 52 week high of $113.61. The company has a market capitalization of $12.45 billion, a PE ratio of 61.99, a PEG ratio of 5.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the previous year, the firm posted $0.18 earnings per share. Research analysts expect that MakeMyTrip will post 1.27 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Several large investors have recently modified their holdings of MMYT. Mirae Asset Global Investments Co. Ltd. acquired a new position in MakeMyTrip during the 1st quarter valued at $6,470,000. Flossbach Von Storch AG acquired a new position in MakeMyTrip during the 1st quarter valued at $1,776,000. Oppenheimer & Co. Inc. acquired a new position in MakeMyTrip during the 1st quarter valued at $283,000. Capital Wealth Planning LLC acquired a new position in MakeMyTrip during the 1st quarter valued at $2,274,000. Finally, Russell Investments Group Ltd. raised its stake in MakeMyTrip by 117.5% during the 1st quarter. Russell Investments Group Ltd. now owns 234,203 shares of the technology company’s stock valued at $16,640,000 after purchasing an additional 126,505 shares during the last quarter. 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.