MakeMyTrip (NASDAQ:MMYT) Stock Price Up 5.9% – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price traded up 5.9% during mid-day trading on Thursday . The stock traded as high as $109.30 and last traded at $109.22. 752,695 shares were traded during mid-day trading, an increase of 12% from the average session volume of 674,861 shares. The stock had previously closed at $103.15.

Analysts Set New Price Targets

MMYT has been the topic of a number of recent research reports. Bank of America lifted their target price on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, December 27th. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

MakeMyTrip Trading Up 6.1 %

The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 59.80, a P/E/G ratio of 5.36 and a beta of 1.29. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $111.56 and a two-hundred day moving average of $102.16.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly 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 11.54% and a net margin of 26.64%. Research analysts predict that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB bought a new position in MakeMyTrip during the fourth quarter worth about $3,930,000. 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 last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of MakeMyTrip by 1.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,616 shares of the technology company’s stock valued at $3,887,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd bought a new position in shares of MakeMyTrip in the fourth quarter valued at approximately $99,000. Finally, Matthews International Capital Management LLC raised its stake in shares of MakeMyTrip by 6.2% in the fourth quarter. Matthews International Capital Management LLC now owns 240,751 shares of the technology company’s stock valued at $27,032,000 after acquiring an additional 13,952 shares during the last quarter. Institutional investors 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.