MakeMyTrip (NASDAQ:MMYT) Stock Price Up 5.9% – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) shares rose 5.9% during mid-day trading on Thursday . The company traded as high as $109.30 and last traded at $109.22. Approximately 752,695 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 674,861 shares. The stock had previously closed at $103.15.

Wall Street Analyst Weigh In

MMYT has been the subject of a number of research analyst reports. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America increased their price objective on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Trading Up 6.1 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The company has a fifty day moving average of $111.56 and a 200-day moving average of $102.16. The firm has a market capitalization of $12.01 billion, a PE ratio of 59.80, a price-to-earnings-growth ratio of 5.36 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. On average, sell-side analysts anticipate that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in MakeMyTrip by 51.2% during the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after buying an additional 1,230,916 shares in the last quarter. Jennison Associates LLC grew its position in shares of MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares during the last quarter. Marshall Wace LLP grew its position in shares of MakeMyTrip by 129.2% in the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after purchasing an additional 539,067 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after purchasing an additional 107,814 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of MakeMyTrip by 1.3% in the third quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company’s stock valued at $47,258,000 after purchasing an additional 6,378 shares during the last quarter. 51.89% of the stock is currently owned by 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.