MakeMyTrip (NASDAQ:MMYT) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d” rating in a report released on Tuesday, November 14th.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. ValuEngine cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Jefferies Group restated a “hold” rating and set a $31.50 target price on shares of MakeMyTrip in a research note on Friday, October 13th. Finally, UBS cut MakeMyTrip from a “buy” rating to a “sell” rating and set a $30.00 target price for the company. in a research note on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $31.28.
MakeMyTrip (NASDAQ MMYT) traded down $1.75 during midday trading on Tuesday, reaching $28.65. The company’s stock had a trading volume of 291,924 shares, compared to its average volume of 375,427. MakeMyTrip has a 52 week low of $22.05 and a 52 week high of $40.90.
A number of hedge funds and other institutional investors have recently modified their holdings of MMYT. D.A. Davidson & CO. lifted its stake in MakeMyTrip by 12.7% in the second quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock valued at $119,000 after buying an additional 399 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in MakeMyTrip in the third quarter valued at approximately $135,000. Legal & General Group Plc purchased a new stake in MakeMyTrip in the third quarter valued at approximately $238,000. Credit Suisse AG purchased a new stake in MakeMyTrip in the first quarter valued at approximately $242,000. Finally, Airain ltd purchased a new stake in MakeMyTrip in the second quarter valued at approximately $256,000. Institutional investors own 44.88% of the company’s stock.
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MakeMyTrip Company Profile
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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