MakeMyTrip (NASDAQ:MMYT) Trading Down 3.7% – Should You Sell?

Shares of MakeMyTrip Limited (NASDAQ:MMYT) dropped 3.7% on Tuesday . The stock traded as low as $113.31 and last traded at $113.57. Approximately 36,222 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 315,375 shares. The stock had previously closed at $117.99.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, December 27th. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

MakeMyTrip Price Performance

The firm has a market capitalization of $12.33 billion, a P/E ratio of 61.37, a PEG ratio of 6.59 and a beta of 1.29. The business’s 50-day simple moving average is $111.51 and its 200 day simple moving average is $100.78. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter last year, the firm earned $0.18 EPS. Sell-side analysts forecast that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. bought a new position in MakeMyTrip during the 3rd quarter worth approximately $1,134,000. Tidal Investments LLC grew its holdings in shares of MakeMyTrip by 5.9% in the third quarter. Tidal Investments LLC now owns 39,981 shares of the technology company’s stock worth $3,716,000 after purchasing an additional 2,221 shares during the last quarter. Virtu Financial LLC increased its stake in shares of MakeMyTrip by 338.3% in the third quarter. Virtu Financial LLC now owns 11,593 shares of the technology company’s stock worth $1,078,000 after buying an additional 8,948 shares during the period. Geode Capital Management LLC raised its holdings in MakeMyTrip by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company’s stock valued at $25,397,000 after buying an additional 19,471 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in MakeMyTrip during the 3rd quarter valued at $858,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

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.