MakeMyTrip (NASDAQ:MMYT) Trading 6% Higher – Time to Buy?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price rose 6% during mid-day trading on Monday . The company traded as high as $117.67 and last traded at $115.78. Approximately 231,501 shares changed hands during trading, a decline of 69% from the average daily volume of 756,230 shares. The stock had previously closed at $109.27.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America raised their price objective on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 27th.

MakeMyTrip Stock Down 0.2 %

The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $112.31 and a two-hundred day simple moving average of $103.48. The firm has a market capitalization of $12.95 billion, a P/E ratio of 64.13, a P/E/G ratio of 7.05 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. On average, equities analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

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