MakeMyTrip (NASDAQ:MMYT) Sees Strong Trading Volume

MakeMyTrip Limited (NASDAQ:MMYT) shares saw an uptick in trading volume on Tuesday . 1,543,725 shares were traded during mid-day trading, an increase of 100% from the previous session’s volume of 772,628 shares.The stock last traded at $68.16 and had previously closed at $67.77.

Analysts Set New Price Targets

Several brokerages recently issued reports on MMYT. Macquarie downgraded MakeMyTrip from an “outperform” rating to a “neutral” rating and increased their price target for the company from $50.00 to $60.00 in a report on Wednesday, February 21st. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th.

MakeMyTrip Stock Performance

The company’s 50-day simple moving average is $64.99 and its 200-day simple moving average is $52.77. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 147.33 and a beta of 1.23.

Institutional Trading of MakeMyTrip

Several hedge funds have recently modified their holdings of the stock. Raymond James & Associates acquired a new stake in shares of MakeMyTrip during the fourth quarter worth $733,000. SG Americas Securities LLC raised its stake in MakeMyTrip by 478.2% in the 4th quarter. SG Americas Securities LLC now owns 51,682 shares of the technology company’s stock worth $2,428,000 after purchasing an additional 42,744 shares in the last quarter. Blue Trust Inc. raised its stake in MakeMyTrip by 12.3% in the 4th quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock worth $331,000 after purchasing an additional 774 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of MakeMyTrip in the 4th quarter valued at approximately $5,573,000. Finally, Artisan Partners Limited Partnership bought a new stake in MakeMyTrip during the 3rd quarter worth approximately $84,983,000. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Company Profile

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.