MakeMyTrip Limited (NASDAQ:MMYT)’s stock price fell 4.4% during trading on Thursday . The company traded as low as $26.98 and last traded at $27.03. 4,259 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 576,156 shares. The stock had previously closed at $28.27.
A number of research firms recently commented on MMYT. Zacks Investment Research downgraded MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America upgraded MakeMyTrip from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $32.00 in a research note on Tuesday, February 16th. Finally, UBS Group raised their target price on shares of MakeMyTrip from $23.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 12th.
The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.53. The stock’s fifty day simple moving average is $32.87 and its 200-day simple moving average is $27.25. The stock has a market cap of $2.72 billion, a P/E ratio of -6.59 and a beta of 1.26.
Large investors have recently made changes to their positions in the stock. Capital Asset Advisory Services LLC purchased a new position in MakeMyTrip during the 4th quarter worth approximately $30,000. Veriti Management LLC bought a new position in shares of MakeMyTrip during the 4th quarter worth about $40,000. Verde Servicos Internacionais S.A. bought a new position in shares of MakeMyTrip during the 1st quarter worth about $63,000. BlackRock Inc. increased its stake in MakeMyTrip by 48.5% in the third quarter. BlackRock Inc. now owns 6,131 shares of the technology company’s stock valued at $94,000 after acquiring an additional 2,001 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in MakeMyTrip in the first quarter valued at about $208,000. 36.97% of the stock is currently owned by hedge funds and other institutional investors.
MakeMyTrip Company Profile (NASDAQ:MMYT)
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, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance.
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