Shares of MakeMyTrip Ltd. (NASDAQ:MMYT) fell 2.5% during mid-day trading on Monday . The stock traded as low as $20.83 and last traded at $21.13, with a volume of 150,291 shares traded. The stock had previously closed at $21.68.

Several brokerages have issued reports on MMYT. Zacks Investment Research raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Jefferies Group raised their price objective on shares of MakeMyTrip from $19.10 to $19.80 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Nomura raised shares of MakeMyTrip from a “reduce” rating to a “neutral” rating and decreased their price objective for the stock from $14.50 to $14.00 in a research note on Friday, June 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.68.

The company’s market capitalization is $882.74 million. The firm’s 50 day moving average is $19.61 and its 200-day moving average is $17.64.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.64) by $0.09. MakeMyTrip had a negative return on equity of 80.55% and a negative net margin of 27.12%. The company had revenue of $121.23 million for the quarter, compared to analyst estimates of $93.66 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, analysts expect that MakeMyTrip Ltd. will post ($2.41) EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMYT. Goldman Sachs Group Inc. increased its position in MakeMyTrip by 219.9% in the first quarter. Goldman Sachs Group Inc. now owns 493,237 shares of the company’s stock valued at $8,923,000 after buying an additional 339,037 shares during the period. Geode Capital Management LLC boosted its stake in shares of MakeMyTrip by 6.5% in the first quarter. Geode Capital Management LLC now owns 17,388 shares of the company’s stock valued at $314,000 after buying an additional 1,056 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of MakeMyTrip during the first quarter valued at about $13,065,000. Ward Ferry Management BVI Ltd boosted its stake in shares of MakeMyTrip by 81.6% in the second quarter. Ward Ferry Management BVI Ltd now owns 2,832,226 shares of the company’s stock valued at $42,087,000 after buying an additional 1,272,300 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of MakeMyTrip by 200.9% in the second quarter. First Trust Advisors LP now owns 223,544 shares of the company’s stock valued at $3,322,000 after buying an additional 149,240 shares in the last quarter. Hedge funds and other institutional investors own 76.68% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited is an online travel company in India. The Company conducts its business principally through its Indian subsidiary, MakeMyTrip (India) Private Limited (MMT India). Through its primary Website, www.makemytrip.com, or MakeMyTrip.com, its subsidiaries’ websites, such as www.hoteltravel.com, www.makemytrip.ae, www.makemytrip.com.sg, and other technology-enhanced distribution channels in India, including its call centers, travel stores and travel agents’ network, travelers can research, plan and book a wide range of travel services and products in India, as well as overseas.

5 Day Chart for NASDAQ:MMYT

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