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

MakeMyTrip Limited (NASDAQ:MMYT)’s share price shot up 6% during trading on Monday . The company 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 Analysts Forecast Growth

A number of equities analysts have recently weighed in on MMYT shares. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Bank of America upped 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 Price Performance

The stock has a market cap of $13.06 billion, a PE ratio of 64.64, a P/E/G ratio of 7.05 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88. The business has a 50 day moving average price of $112.15 and a two-hundred day moving average price of $103.27.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data 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 return on equity of 11.46% and a net margin of 25.42%. Research analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MMYT. Park Place Capital Corp purchased a new position in MakeMyTrip in the third quarter valued at approximately $25,000. USA Financial Formulas purchased a new position in shares of MakeMyTrip during the 4th quarter valued at $35,000. Advisors Asset Management Inc. lifted its position in shares of MakeMyTrip by 100.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after buying an additional 225 shares during the last quarter. R Squared Ltd bought a new position in shares of MakeMyTrip during the 4th quarter worth $99,000. Finally, BOCHK Asset Management Ltd increased its holdings in MakeMyTrip by 266.7% in the 4th quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock worth $124,000 after acquiring an additional 800 shares during the last quarter. 51.89% of the stock is owned by 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.