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

MakeMyTrip (NASDAQ:MMYT) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Separately, Citigroup lifted their price objective on MakeMyTrip from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $105.44 on Thursday. The firm has a market cap of $11.58 billion, a P/E ratio of 57.30, a P/E/G ratio of 6.56 and a beta of 0.92. MakeMyTrip has a fifty-two week low of $72.55 and a fifty-two week high of $123.00. The business’s 50 day moving average price is $101.28 and its 200-day moving average price is $105.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

Institutional Investors Weigh In On MakeMyTrip

A number of large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MakeMyTrip by 9,724.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company’s stock worth $2,364,732,000 after buying an additional 23,886,735 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company’s stock worth $505,158,000 after buying an additional 1,471,660 shares during the last quarter. New Vernon Capital Holdings II LLC grew its position in shares of MakeMyTrip by 9,699.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock worth $503,992,000 after buying an additional 5,090,811 shares during the last quarter. Schroder Investment Management Group grew its position in shares of MakeMyTrip by 3.6% in the 4th quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company’s stock worth $462,470,000 after buying an additional 141,507 shares during the last quarter. Finally, FMR LLC boosted its position in shares of MakeMyTrip by 4.3% during the fourth quarter. FMR LLC now owns 3,793,574 shares of the technology company’s stock valued at $425,942,000 after purchasing an additional 158,101 shares in the last quarter. 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.