MakeMyTrip (NASDAQ:MMYT) Stock Rating Lowered by StockNews.com

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MakeMyTrip (NASDAQ:MMYT – Get Rating) was downgraded by stock analysts StockNews.com from a “hold” rating to a “sell” rating in a research note released Saturday to investors.

A number of other analysts have also recently weighed in on MMYT. UBS Group upgraded shares of MakeMyTrip from a “sell” rating to a “buy” rating in a Monday, June 13 research note. Citigroup raised its price target on shares of MakeMyTrip from $42.00 to $43.00 and gave the stock a “buy” rating in a Thursday, May 26 research report. One research analyst has rated the stock with a sell rating, another has issued a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat.com, MakeMyTrip currently has an average rating of “Hold” and an average target price of $36.00.

MakeMyTrip stock performance

NASDAQ:MMYT opened at $27.02 on Friday. The company’s 50-day moving average is $26.07 and its 200-day moving average is $25.91. MakeMyTrip has a 52-week low of $20.06 and a 52-week high of $36.28. The company has a debt ratio of 0.24, a quick ratio of 3.09 and a current ratio of 3.09. The company has a market capitalization of $2.83 billion, a price-earnings ratio of -65.90 and a beta of 1.22.

MakeMyTrip Institutional Trade

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A number of hedge funds have recently changed their stock holdings. Bank of America Corp DE increased its position in MakeMyTrip by 50.7% during the first quarter. Bank of America Corp DE now owns 232,074 shares of the technology company worth $6,227,000 after acquiring an additional 78,114 shares during the period. Neuberger Berman Group LLC increased its equity stake in MakeMyTrip by 9.7% in Q1. Neuberger Berman Group LLC now owns 91,422 shares of the technology company valued at $2,464,000 after buying an additional 8,060 shares last quarter. Capital International Sarl strengthened its position in MakeMyTrip by 32.9% in the 1st quarter. Capital International Sarl now owns 110,834 shares of the technology company worth $2,974,000 after purchasing an additional 27,419 shares during the period. Capital Group International Inc. CA strengthened its position in MakeMyTrip by 13.5% in the 1st quarter. Capital Group International Inc. CA now owns 686,436 shares of the technology company worth $18,417,000 after purchasing an additional 81,464 shares during the period. Finally, Capital International Investors strengthened its position in MakeMyTrip by 1.3% in the 1st quarter. Capital International Investors now owns 3,330,246 shares of the technology company worth $89,351,000 after purchasing an additional 42,862 shares during the period. Institutional investors and hedge funds hold 42.91% of the company’s shares.

About MakeMyTrip

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MakeMyTrip Limited, an online travel agency, sells travel products and solutions in India, USA, Singapore, Malaysia, Thailand, United Arab Emirates, Peru, Colombia and Indonesia. The Company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include airline tickets; hotels; packets; train tickets; bus tickets; and car rental, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance.

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