MakeMyTrip (NASDAQ:MMYT) Sets New 52-Week High at $101.88

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $101.88 and last traded at $100.33, with a volume of 74348 shares changing hands. The stock had previously closed at $99.85.

Analyst Ratings Changes

Several research firms have recently commented on MMYT. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Bank of America lifted their price target on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Citigroup increased their price objective on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Performance

The business’s fifty day simple moving average is $92.38 and its 200-day simple moving average is $79.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78. The firm has a market capitalization of $11.21 billion, a PE ratio of 60.07, a price-to-earnings-growth ratio of 4.98 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The business had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. As a group, equities research analysts expect that MakeMyTrip Limited will post 1.38 EPS for the current year.

Institutional Trading of MakeMyTrip

Several hedge funds have recently modified their holdings of MMYT. EverSource Wealth Advisors LLC increased its position in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after purchasing an additional 332 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of MakeMyTrip during the 2nd quarter valued at about $59,000. nVerses Capital LLC purchased a new position in MakeMyTrip in the second quarter worth about $143,000. LRI Investments LLC bought a new stake in shares of MakeMyTrip in the 1st quarter valued at approximately $149,000. Finally, Catalytic Wealth RIA LLC purchased a new stake in MakeMyTrip during the 4th quarter valued at $207,000. 51.89% of the stock is owned by hedge funds and other 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.