MakeMyTrip (NASDAQ:MMYT) Stock Price Down 4.4%

MakeMyTrip Limited (NASDAQ:MMYT)’s share price traded down 4.4% during trading on Thursday . The company traded as low as $102.02 and last traded at $102.15. 105,517 shares changed hands during trading, a decline of 85% from the average session volume of 722,329 shares. The stock had previously closed at $106.84.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MMYT. Bank of America lifted their target price on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Citigroup boosted their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.

MakeMyTrip Price Performance

The company’s 50 day moving average is $95.97 and its 200-day moving average is $82.57. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 59.01, a P/E/G ratio of 5.88 and a beta of 1.28. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The company had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. Equities research analysts anticipate that MakeMyTrip Limited will post 1.38 earnings per share for the current year.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc grew its stake in MakeMyTrip by 378.0% in the 4th quarter. TD Asset Management Inc now owns 49,835 shares of the technology company’s stock valued at $2,341,000 after buying an additional 39,409 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of MakeMyTrip by 41.7% during the fourth quarter. Allianz Asset Management GmbH now owns 268,015 shares of the technology company’s stock worth $12,591,000 after purchasing an additional 78,850 shares during the period. Catalytic Wealth RIA LLC acquired a new stake in MakeMyTrip during the 4th quarter worth approximately $207,000. Axiom Investors LLC DE lifted its holdings in MakeMyTrip by 34.1% during the 4th quarter. Axiom Investors LLC DE now owns 340,048 shares of the technology company’s stock worth $15,975,000 after purchasing an additional 86,558 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in MakeMyTrip by 49.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 698,156 shares of the technology company’s stock valued at $32,799,000 after purchasing an additional 230,995 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.