MakeMyTrip (NASDAQ:MMYT) Downgraded to Sell Rating by Wall Street Zen

Key Points

• MakeMyTrip has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook from analysts.
• Despite the downgrade, Macquarie upgraded its rating on MakeMyTrip to "outperform" with a target price of $110.00, showing mixed sentiment among analysts.
• The company's stock is currently trading down 1.9%, with a market capitalization of $10.21 billion, reflecting recent volatility in the travel sector.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other brokerages have also issued reports on MMYT. Citigroup cut their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a report on Tuesday, June 24th.

MakeMyTrip Stock Performance

Shares of MMYT stock traded down $0.89 during mid-day trading on Friday, reaching $91.85. 655,591 shares of the company's stock traded hands, compared to its average volume of 1,057,315. The firm has a market capitalization of $10.22 billion, a PE ratio of 106.77 and a beta of 0.86. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a 50 day moving average price of $96.92 and a two-hundred day moving average price of $100.17. MakeMyTrip has a 12 month low of $81.84 and a 12 month high of $123.00.

Institutional Trading of MakeMyTrip

Several institutional investors and hedge funds have recently made changes to their positions in MMYT. WPG Advisers LLC purchased a new stake in shares of MakeMyTrip in the 1st quarter valued at about $28,000. Twin Tree Management LP acquired a new stake in MakeMyTrip during the 1st quarter worth approximately $29,000. First Horizon Advisors Inc. acquired a new stake in MakeMyTrip during the 2nd quarter worth approximately $43,000. Stone House Investment Management LLC acquired a new stake in MakeMyTrip during the 1st quarter worth approximately $49,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of MakeMyTrip during the 2nd quarter worth approximately $50,000. 51.89% of the stock is owned by hedge funds and other 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.