MakeMyTrip Limited (NASDAQ:MMYT – Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.40 and traded as high as $63.54. MakeMyTrip shares last traded at $61.22, with a volume of 821,738 shares trading hands.
Wall Street Analysts Forecast Growth
MMYT has been the topic of a number of research reports. Macquarie downgraded shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $60.00 in a research note on Wednesday, February 21st. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th.
MakeMyTrip Stock Performance
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $214.22 million for the quarter, compared to analysts’ expectations of $210.01 million. MakeMyTrip had a return on equity of 10.13% and a net margin of 6.93%. As a group, research analysts forecast that MakeMyTrip Limited will post 0.84 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMYT. Harbour Capital Advisors LLC lifted its holdings in MakeMyTrip by 10.9% during the 1st quarter. Harbour Capital Advisors LLC now owns 19,790 shares of the technology company’s stock valued at $1,391,000 after purchasing an additional 1,945 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of MakeMyTrip during the first quarter worth approximately $502,000. Fisher Asset Management LLC raised its stake in shares of MakeMyTrip by 29.8% in the fourth quarter. Fisher Asset Management LLC now owns 94,606 shares of the technology company’s stock valued at $4,445,000 after acquiring an additional 21,733 shares during the last quarter. FIL Ltd boosted its holdings in shares of MakeMyTrip by 1.2% in the 4th quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock worth $287,773,000 after acquiring an additional 74,951 shares in the last quarter. Finally, Vident Advisory LLC grew its position in MakeMyTrip by 59.7% during the 4th quarter. Vident Advisory LLC now owns 14,365 shares of the technology company’s stock worth $675,000 after acquiring an additional 5,372 shares during the last quarter. Institutional investors 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.
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