MakeMyTrip Limited (MMYT) Raised to “C-” at TheStreet
MakeMyTrip Limited (NASDAQ:MMYT) was upgraded by stock analysts at TheStreet from a “d” rating to a “c-” rating in a research note issued on Tuesday.
Several other brokerages also recently commented on MMYT. ValuEngine upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $28.23.
MakeMyTrip Limited (NASDAQ:MMYT) traded up 3.37% during trading on Tuesday, reaching $35.30. The company’s stock had a trading volume of 764,323 shares. The company’s market cap is $3.24 billion. MakeMyTrip Limited has a 52-week low of $15.64 and a 52-week high of $40.90. The stock has a 50-day moving average price of $31.79 and a 200 day moving average price of $33.51.
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Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in MakeMyTrip Limited during the fourth quarter worth about $2,135,000. Manning & Napier Advisors LLC purchased a new position in MakeMyTrip Limited during the first quarter worth about $26,476,000. Horseman Capital Management Ltd purchased a new position in MakeMyTrip Limited during the first quarter worth about $22,715,000. Jennison Associates LLC purchased a new position in MakeMyTrip Limited during the first quarter worth about $492,000. Finally, First Trust Advisors LP increased its position in MakeMyTrip Limited by 34.9% in the first quarter. First Trust Advisors LP now owns 158,516 shares of the technology company’s stock worth $5,485,000 after buying an additional 41,024 shares during the period. Hedge funds and other institutional investors own 42.18% of the company’s stock.
About MakeMyTrip Limited
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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