MakeMyTrip (NASDAQ:MMYT) Sees Strong Trading Volume – Here’s What Happened

Shares of MakeMyTrip Limited (NASDAQ:MMYT) saw strong trading volume on Tuesday . 570,984 shares were traded during trading, a decline of 21% from the previous session’s volume of 722,193 shares.The stock last traded at $100.34 and had previously closed at $100.32.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MMYT. Bank of America upped their price target on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Citigroup increased their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

MakeMyTrip Trading Up 2.8 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The business has a 50 day simple moving average of $101.64 and a 200-day simple moving average of $91.64. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 55.11, a PEG ratio of 5.48 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The firm had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, equities analysts expect that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Park Place Capital Corp bought a new position in shares of MakeMyTrip during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares in the last quarter. Advisors Asset Management Inc. increased its stake in MakeMyTrip by 100.9% in 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. Fifth Third Bancorp acquired a new position in MakeMyTrip during the second quarter valued at approximately $59,000. Finally, nVerses Capital LLC acquired a new stake in shares of MakeMyTrip in the 2nd quarter valued at approximately $143,000. 51.89% of the stock is currently owned by institutional investors.

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.