MakeMyTrip (NASDAQ:MMYT) Trading Down 6%

MakeMyTrip Limited (NASDAQ:MMYT)’s share price dropped 6% during mid-day trading on Tuesday . The stock traded as low as $83.52 and last traded at $84.30. Approximately 308,794 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 775,432 shares. The stock had previously closed at $89.71.

Analyst Upgrades and Downgrades

MMYT has been the topic of several recent research reports. Macquarie lowered shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $60.00 in a research report on Wednesday, February 21st. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th.

MakeMyTrip Stock Performance

The company has a current ratio of 2.88, a quick ratio of 1.53 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $8.29 billion, a PE ratio of 46.78, a PEG ratio of 5.41 and a beta of 1.26. The firm’s 50-day simple moving average is $70.67 and its two-hundred day simple moving average is $57.16.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in MakeMyTrip during the 1st quarter worth approximately $149,000. Tidal Investments LLC purchased a new position in shares of MakeMyTrip during the 1st quarter valued at $3,891,000. Janus Henderson Group PLC grew its holdings in shares of MakeMyTrip by 143.2% during the 1st quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock valued at $32,574,000 after acquiring an additional 269,988 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of MakeMyTrip during the 1st quarter valued at $443,000. Finally, Totem Point Management LLC purchased a new position in shares of MakeMyTrip during the 1st quarter valued at $2,694,000. 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.