MakeMyTrip (NASDAQ:MMYT) Hits New 52-Week High – Here’s Why

Shares of MakeMyTrip Limited (NASDAQ:MMYT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $123.00 and last traded at $121.81, with a volume of 258518 shares trading hands. The stock had previously closed at $115.04.

Wall Street Analysts Forecast Growth

MMYT has been the topic of a number of research reports. Bank of America increased their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

MakeMyTrip Price Performance

The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $106.03 and a 200 day moving average price of $95.75. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 65.54, a PEG ratio of 6.77 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The business had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, equities research analysts expect that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On MakeMyTrip

A number of large investors have recently added to or reduced their stakes in MMYT. Harbour Capital Advisors LLC increased its stake in shares of MakeMyTrip by 0.9% during the third quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 175 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in MakeMyTrip by 0.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock worth $2,100,000 after buying an additional 204 shares in the last quarter. Caprock Group LLC raised its holdings in shares of MakeMyTrip by 6.4% during the third quarter. Caprock Group LLC now owns 3,726 shares of the technology company’s stock valued at $346,000 after acquiring an additional 224 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after acquiring an additional 225 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MakeMyTrip by 44.1% in the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock worth $65,000 after acquiring an additional 236 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.