MakeMyTrip Sees Unusually High Options Volume (NASDAQ:MMYT)

MakeMyTrip Limited (NASDAQ:MMYT) was the recipient of unusually large options trading on Thursday. Stock investors acquired 10,115 call options on the company. This represents an increase of 2,641% compared to the typical volume of 369 call options.

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group raised its position in shares of MakeMyTrip by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after purchasing an additional 869,728 shares during the last quarter. Baillie Gifford & Co. grew its position in MakeMyTrip by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after purchasing an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in MakeMyTrip by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after purchasing an additional 371,066 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in MakeMyTrip by 1.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after purchasing an additional 40,712 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in MakeMyTrip by 780.3% during the 4th quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after purchasing an additional 2,016,281 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analyst Ratings Changes

MMYT has been the topic of several analyst reports. Citigroup cut their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Bank of America decreased their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Stock Performance

Shares of MMYT opened at $40.00 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a market cap of $4.45 billion, a PE ratio of 83.33, a P/E/G ratio of 1.34 and a beta of 0.64. MakeMyTrip has a 12 month low of $38.22 and a 12 month high of $113.85. The stock has a fifty day moving average price of $55.06 and a 200-day moving average price of $74.30.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The firm had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. Equities research analysts predict that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.