MakeMyTrip (NASDAQ:MMYT) Shares Down 8.2% – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price dropped 8.2% during mid-day trading on Tuesday . The company traded as low as $42.08 and last traded at $41.2530. Approximately 227,313 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,658,394 shares. The stock had previously closed at $44.93.

Analyst Ratings Changes

MMYT has been the topic of a number of research reports. Citigroup reduced their price objective on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.00.

MakeMyTrip Trading Down 10.2%

The stock has a market cap of $4.49 billion, a P/E ratio of 84.10, a P/E/G ratio of 1.76 and a beta of 1.03. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The company has a 50-day moving average price of $44.31 and a two-hundred day moving average price of $61.76.

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in MakeMyTrip by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 117,787 shares of the technology company’s stock valued at $4,396,000 after acquiring an additional 22,622 shares during the last quarter. Amundi grew its position in MakeMyTrip by 16.6% in the 1st quarter. Amundi now owns 640,932 shares of the technology company’s stock valued at $23,900,000 after acquiring an additional 91,388 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in MakeMyTrip by 74.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after acquiring an additional 422 shares during the last quarter. Royal Bank of Canada grew its position in MakeMyTrip by 53.8% in the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock valued at $130,464,000 after acquiring an additional 1,223,963 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new position in MakeMyTrip in the 1st quarter valued at $417,000. Institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.