MakeMyTrip (NASDAQ:MMYT) Shares Gap Down - Here's What Happened

MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $114.53, but opened at $110.71. MakeMyTrip shares last traded at $111.93, with a volume of 55,035 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MMYT shares. StockNews.com cut MakeMyTrip from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Bank of America raised their target price on MakeMyTrip from $119.00 to $130.00 and gave the company a "buy" rating in a research note on Friday.

MakeMyTrip Trading Down 0.5 %

The business has a 50 day moving average of $109.79 and a 200 day moving average of $99.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 62.30, a PEG ratio of 6.59 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The company had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. During the same period in the previous year, the company earned $0.18 EPS. As a group, research analysts predict that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several institutional investors have recently added to or reduced their stakes in MMYT. FMR LLC increased its stake in MakeMyTrip by 51.2% in the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company's stock valued at $337,917,000 after buying an additional 1,230,916 shares during the last quarter. Jennison Associates LLC increased its position in shares of MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company's stock valued at $215,325,000 after acquiring an additional 1,710,773 shares during the last quarter. William Blair Investment Management LLC raised its holdings in MakeMyTrip by 54.5% during the second quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company's stock worth $92,431,000 after acquiring an additional 387,695 shares in the last quarter. Marshall Wace LLP boosted its position in MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company's stock valued at $80,414,000 after purchasing an additional 539,067 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company's stock valued at $58,750,000 after purchasing an additional 107,814 shares during the last quarter. 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.