MakeMyTrip (MMYT) Lowered to Strong Sell at BidaskClub

MakeMyTrip (NASDAQ:MMYT) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

Other research analysts also recently issued reports about the stock. ValuEngine upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Jefferies Financial Group upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 price target for the company in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, TheStreet downgraded shares of MakeMyTrip from a “c-” rating to a “d+” rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. MakeMyTrip has an average rating of “Hold” and a consensus target price of $31.16.

Shares of NASDAQ:MMYT opened at $22.36 on Wednesday. The firm has a market cap of $2.43 billion, a PE ratio of -10.26 and a beta of 0.04. MakeMyTrip has a 52-week low of $20.82 and a 52-week high of $41.70.

Several large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its holdings in shares of MakeMyTrip by 30.7% during the second quarter. Cubist Systematic Strategies LLC now owns 9,082 shares of the technology company’s stock worth $328,000 after buying an additional 2,133 shares in the last quarter. GAM Holding AG increased its holdings in MakeMyTrip by 14.4% in the third quarter. GAM Holding AG now owns 19,375 shares of the technology company’s stock valued at $532,000 after purchasing an additional 2,442 shares during the period. MayTech Global Investments LLC increased its holdings in MakeMyTrip by 2.0% in the second quarter. MayTech Global Investments LLC now owns 126,554 shares of the technology company’s stock valued at $4,575,000 after purchasing an additional 2,493 shares during the period. Legal & General Group Plc increased its holdings in MakeMyTrip by 38.9% in the first quarter. Legal & General Group Plc now owns 11,506 shares of the technology company’s stock valued at $399,000 after purchasing an additional 3,222 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in MakeMyTrip in the third quarter valued at $108,000. Institutional investors own 44.79% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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