MakeMyTrip (NASDAQ:MMYT) Trading Up 6% – What’s Next?

Shares of MakeMyTrip Limited (NASDAQ:MMYT) were up 6% on Monday . The stock traded as high as $117.67 and last traded at $115.78. Approximately 231,501 shares traded hands during mid-day 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

MMYT has been the topic of several recent research reports. Bank of America increased their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th.

MakeMyTrip Price Performance

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. The stock’s fifty day simple moving average is $112.31 and its 200 day simple moving average is $103.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 EPS 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%. On average, equities research analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

Institutional Trading of MakeMyTrip

Several hedge funds and other institutional investors have recently made changes to their positions in MMYT. Cable Hill Partners LLC purchased a new position in MakeMyTrip during the 4th quarter worth $225,000. Bank of New York Mellon Corp grew its stake in shares of MakeMyTrip by 939.1% during the fourth quarter. Bank of New York Mellon Corp now owns 329,173 shares of the technology company’s stock worth $36,959,000 after acquiring an additional 297,493 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of MakeMyTrip by 5.5% during the fourth quarter. IFP Advisors Inc now owns 9,833 shares of the technology company’s stock valued at $1,104,000 after acquiring an additional 509 shares in the last quarter. Navellier & Associates Inc. raised its position in shares of MakeMyTrip by 32.7% in the 4th quarter. Navellier & Associates Inc. now owns 45,840 shares of the technology company’s stock valued at $5,147,000 after purchasing an additional 11,305 shares during the last quarter. Finally, O Neil Global Advisors Inc. acquired a new stake in MakeMyTrip in the 4th quarter worth approximately $1,399,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

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.