TheStreet Downgrades MakeMyTrip (NASDAQ:MMYT) to D+
MakeMyTrip (NASDAQ:MMYT) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued on Tuesday, TheStreetRatingsTable reports.
A number of other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of MakeMyTrip from a “sell” rating to a “strong sell” rating in a research note on Friday, September 27th. Goldman Sachs Group set a $32.00 price objective on shares of MakeMyTrip and gave the company a “buy” rating in a research note on Monday, September 23rd. Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, ValuEngine cut shares of MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.50.
MMYT stock opened at $22.64 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -14.06 and a beta of 0.40. MakeMyTrip has a 1 year low of $19.66 and a 1 year high of $32.30. The stock’s fifty day moving average is $23.20 and its two-hundred day moving average is $24.90.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in MakeMyTrip by 309.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the technology company’s stock worth $25,000 after acquiring an additional 767 shares during the period. Bellecapital International Ltd. increased its stake in MakeMyTrip by 4.6% in the 2nd quarter. Bellecapital International Ltd. now owns 11,866 shares of the technology company’s stock worth $294,000 after purchasing an additional 522 shares in the last quarter. Jane Street Group LLC purchased a new position in MakeMyTrip in the 2nd quarter worth about $320,000. Vanguard Group Inc. increased its stake in MakeMyTrip by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 15,391 shares of the technology company’s stock worth $382,000 after purchasing an additional 497 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its stake in MakeMyTrip by 36.1% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 29,166 shares of the technology company’s stock worth $723,000 after purchasing an additional 7,733 shares in the last quarter. 43.90% of the stock is currently owned by hedge funds and other institutional investors.
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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