MakeMyTrip (NASDAQ:MMYT) Stock Price Down 6.9% – Should You Sell?

MakeMyTrip Limited (NASDAQ:MMYT) shares dropped 6.9% during trading on Tuesday . The stock traded as low as $99.63 and last traded at $99.40. Approximately 213,546 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 519,642 shares. The stock had previously closed at $106.80.

Analyst Ratings Changes

A number of research firms have weighed in on MMYT. Bank of America increased their target price on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th. StockNews.com cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

MakeMyTrip Trading Down 7.1 %

The company has a market capitalization of $10.89 billion, a P/E ratio of 54.45, a PEG ratio of 5.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The stock has a fifty day moving average of $111.68 and a 200 day moving average of $102.06.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. The firm had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter last year, the company earned $0.18 earnings per share. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in MakeMyTrip by 34.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,489 shares of the technology company’s stock worth $703,000 after buying an additional 2,184 shares during the period. Hsbc Holdings PLC bought a new position in shares of MakeMyTrip in the second quarter worth about $1,102,000. Seven Eight Capital LP purchased a new stake in shares of MakeMyTrip during the second quarter worth about $366,000. Sei Investments Co. raised its stake in MakeMyTrip by 39.7% during the 2nd quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock valued at $38,599,000 after purchasing an additional 130,424 shares during the period. Finally, 1832 Asset Management L.P. purchased a new position in MakeMyTrip in the 2nd quarter worth approximately $879,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

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.