MakeMyTrip (NASDAQ:MMYT) Lowered to “Strong Sell” at BidaskClub
Other equities analysts have also recently issued reports about the company. ValuEngine cut MakeMyTrip from a buy rating to a hold rating in a research report on Thursday, August 15th. Bank of America set a $24.00 target price on MakeMyTrip and gave the stock a sell rating in a research report on Monday, May 20th. Finally, Zacks Investment Research upgraded MakeMyTrip from a sell rating to a hold rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $29.75.
MakeMyTrip stock opened at $22.17 on Friday. MakeMyTrip has a 52 week low of $19.66 and a 52 week high of $32.30. The business has a 50-day simple moving average of $25.62 and a 200 day simple moving average of $26.22. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -13.77 and a beta of 0.35.
A number of hedge funds have recently modified their holdings of MMYT. FIL Ltd lifted its stake in MakeMyTrip by 98.9% during the first quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock worth $71,754,000 after purchasing an additional 1,292,622 shares during the last quarter. Brown Advisory Inc. lifted its stake in MakeMyTrip by 18.7% during the second quarter. Brown Advisory Inc. now owns 2,607,430 shares of the technology company’s stock worth $64,664,000 after purchasing an additional 411,306 shares during the last quarter. GMT Capital Corp lifted its stake in MakeMyTrip by 49.5% during the first quarter. GMT Capital Corp now owns 907,376 shares of the technology company’s stock worth $25,044,000 after purchasing an additional 300,453 shares during the last quarter. Norges Bank bought a new stake in MakeMyTrip during the fourth quarter worth about $6,922,000. Finally, Wasatch Advisors Inc. lifted its stake in MakeMyTrip by 7.6% during the second quarter. Wasatch Advisors Inc. now owns 2,244,401 shares of the technology company’s stock worth $55,661,000 after purchasing an additional 157,753 shares during the last quarter. 45.42% of the stock is owned by hedge funds and other institutional investors.
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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