MakeMyTrip (NASDAQ:MMYT) Sets New 52-Week High at $106.63

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $106.63 and last traded at $106.45, with a volume of 59435 shares trading hands. The stock had previously closed at $104.29.

Analyst Ratings Changes

Several equities analysts have issued reports on MMYT shares. Bank of America increased their price objective on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Citigroup raised their target price on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

MakeMyTrip Trading Up 1.1 %

The company’s fifty day moving average price is $93.57 and its two-hundred day moving average price is $80.71. The firm has a market cap of $11.58 billion, a PE ratio of 63.34, a P/E/G ratio of 5.33 and a beta of 1.28. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The firm had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. As a group, sell-side analysts forecast that MakeMyTrip Limited will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in MMYT. Thornburg Investment Management Inc. raised its position in shares of MakeMyTrip by 0.8% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 204 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of MakeMyTrip by 44.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock worth $65,000 after acquiring an additional 236 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MakeMyTrip by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock valued at $2,583,000 after acquiring an additional 324 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of MakeMyTrip in the 2nd quarter valued at approximately $59,000. Finally, Van ECK Associates Corp raised its position in shares of MakeMyTrip by 5.9% during the 2nd quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock valued at $1,191,000 after acquiring an additional 791 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

About MakeMyTrip

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.