MakeMyTrip (NASDAQ:MMYT) Hits New 1-Year Low – Should You Sell?

by · The Markets Daily

MakeMyTrip Limited (NASDAQ:MMYT – Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $69.89 and last traded at $69.96, with a volume of 265484 shares changing hands. The stock had previously closed at $73.69.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Weiss Ratings started coverage on MakeMyTrip in a research note on Thursday, October 30th. They set a “hold (c)” rating on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.00.

View Our Latest Stock Report on MakeMyTrip

MakeMyTrip Stock Performance

The stock has a market cap of $7.81 billion, a PE ratio of 109.42 and a beta of 0.71. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a 50-day simple moving average of $82.35 and a 200-day simple moving average of $92.35.

Institutional Trading of MakeMyTrip

Institutional investors and hedge funds have recently bought and sold shares of the business. New Vernon Capital Holdings II LLC boosted its position in MakeMyTrip by 9,699.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock worth $503,992,000 after purchasing an additional 5,090,811 shares during the period. Schroder Investment Management Group lifted its stake in shares of MakeMyTrip by 42.4% during the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after purchasing an additional 1,674,538 shares in the last quarter. GQG Partners LLC lifted its stake in shares of MakeMyTrip by 273.2% during the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company’s stock worth $196,911,000 after purchasing an additional 1,470,985 shares in the last quarter. Norges Bank purchased a new stake in shares of MakeMyTrip in the second quarter worth about $104,635,000. Finally, Man Group plc grew its stake in shares of MakeMyTrip by 6,434.6% in the second quarter. Man Group plc now owns 632,747 shares of the technology company’s stock valued at $62,022,000 after buying an additional 623,064 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Company Profile

(Get Free Report)

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.

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