MakeMyTrip (NASDAQ:MMYT) Downgraded by Wall Street Zen to Sell

MakeMyTrip (NASDAQ:MMYT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

MMYT has been the topic of several other research reports. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Finally, Zacks Research cut MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MakeMyTrip presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $46.74 on Friday. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 38.85. The stock has a 50 day simple moving average of $43.72 and a 200-day simple moving average of $59.66. The company has a market cap of $5.20 billion, a PE ratio of 186.96 and a beta of 1.03. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.99.

Hedge Funds Weigh In On MakeMyTrip

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of MakeMyTrip by 140.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after acquiring an additional 555,620 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of MakeMyTrip by 112.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock valued at $128,426,000 after acquiring an additional 826,143 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of MakeMyTrip by 107.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock valued at $7,582,000 after acquiring an additional 41,999 shares in the last quarter. Capital World Investors grew its holdings in shares of MakeMyTrip by 5.4% during the 3rd quarter. Capital World Investors now owns 1,306,699 shares of the technology company’s stock valued at $122,307,000 after acquiring an additional 67,109 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in MakeMyTrip by 233.0% in the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock worth $80,980,000 after purchasing an additional 605,388 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

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.