Zacks Investment Research upgraded shares of MakeMyTrip Limited (NASDAQ:MMYT) from a sell rating to a hold rating in a research report released on Tuesday, July 25th.
According to Zacks, “MakeMyTrip Limited is an online travel service company which offers travel products and solutions in India and the United States. The Company’s services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited and MakeMyTrip.com Inc. Through its primary website, www.makemytrip.com, and other technology-enhanced platforms, the Company provides access to all major domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, a wide selection of hotels in and outside India, Indian Railways and several major Indian bus operators. MakeMyTrip Limited is based in Gurgaon, India. “
A number of other brokerages have also issued reports on MMYT. BidaskClub upgraded MakeMyTrip Limited from a sell rating to a hold rating in a research report on Saturday, June 24th. ValuEngine upgraded MakeMyTrip Limited from a sell rating to a hold rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. MakeMyTrip Limited presently has a consensus rating of Hold and a consensus price target of $28.23.
Shares of MakeMyTrip Limited (NASDAQ MMYT) opened at 33.15 on Tuesday. MakeMyTrip Limited has a 52-week low of $17.50 and a 52-week high of $40.90. The company’s market cap is $3.35 billion. The stock’s 50 day moving average is $32.31 and its 200 day moving average is $33.81.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in MakeMyTrip Limited during the first quarter valued at approximately $202,000. Credit Suisse AG purchased a new position in MakeMyTrip Limited during the first quarter valued at approximately $242,000. KCG Holdings Inc. purchased a new position in MakeMyTrip Limited during the first quarter valued at approximately $280,000. Levin Capital Strategies L.P. purchased a new position in MakeMyTrip Limited during the first quarter valued at approximately $311,000. Finally, Cadence Capital Management LLC purchased a new position in MakeMyTrip Limited during the first quarter valued at approximately $368,000. 41.03% of the stock is owned by hedge funds and other institutional investors.
About MakeMyTrip Limited
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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