MakeMyTrip (NASDAQ:MMYT) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Macquarie lowered MakeMyTrip from an outperform rating to a neutral rating and increased their price target for the company from $50.00 to $60.00 in a research report on Wednesday, February 21st.

MakeMyTrip Price Performance

MakeMyTrip stock traded up $4.59 during midday trading on Friday, reaching $79.24. 711,665 shares of the company were exchanged, compared to its average volume of 894,891. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 47.45, a P/E/G ratio of 4.94 and a beta of 1.26. MakeMyTrip has a 1 year low of $25.75 and a 1 year high of $89.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.53 and a current ratio of 2.88. The firm’s 50-day simple moving average is $71.20 and its 200-day simple moving average is $57.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new stake in MakeMyTrip in the 4th quarter valued at about $50,000. Banque Cantonale Vaudoise grew its holdings in shares of MakeMyTrip by 449.8% in the third quarter. Banque Cantonale Vaudoise now owns 3,398 shares of the technology company’s stock worth $138,000 after purchasing an additional 2,780 shares during the last quarter. LRI Investments LLC bought a new stake in MakeMyTrip in the first quarter valued at $149,000. Catalytic Wealth RIA LLC bought a new stake in MakeMyTrip during the fourth quarter worth about $207,000. Finally, HMS Capital Management LLC purchased a new stake in MakeMyTrip during the 1st quarter valued at about $231,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.