Why Shares of MakeMyTrip Limited (MMYT) Are Going Crazy

MakeMyTrip Limited (NASDAQ: MMYT) is -28.12% lower on its value in year-to-date trading and has touched a low of $10.00 and a high of $30.13 in the current 52-week trading range. The MMYT stock was last observed hovering at around $16.57 in the last trading session, with the day’s loss setting it -0.11% off its average median price target of $20.00 for the next 12 months. It is also 28.43% off the consensus price target high of $23.00 offered by 4 analysts, but current levels are -36.03% lower than the price target low of $12.10 for the same period.

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Currently trading at $16.46, the stock is 2.23% and 3.66% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.2 million and changing -0.66% at the moment leaves the stock -17.64% off its SMA200. MMYT registered -41.11% loss for a year compared to 6-month loss of -33.74%. The firm has a 50-day simple moving average (SMA 50) of $16.56 and a 200-day simple moving average (SMA200) of $18.00.

The stock witnessed a -3.06% gain in the last 1 month and extending the period to 3 months gives it a 28.90%, and is 7.30% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.34% over the week and 5.51% over the month.

MakeMyTrip Limited (MMYT) has around 3450 employees, a market worth around $1.71B and $504.70M in sales. Distance from 52-week low is 64.60% and -45.37% from its 52-week high.

MakeMyTrip Limited (MMYT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MakeMyTrip Limited (MMYT) is a “Overweight”. 4 analysts offering their recommendations for the stock have an average rating of 2.30, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

MakeMyTrip Limited is expected to release its quarterly report on 07/29/2020 and quarterly earnings per share for the current quarter are estimated at -$0.5 with sales reaching $10.55M over the same period., but quarterly earnings will post -53.80% year-over-year. Quarterly sales are estimated to shrink -94.70% in year-over-year returns.

MakeMyTrip Limited (MMYT) Top Institutional Holders

156 institutions hold shares in MakeMyTrip Limited (MMYT), with 28.97M shares held by insiders accounting for 27.39% while institutional investors hold 106.57% of the company’s shares. The shares outstanding are 103.63M, and float is at 43.79M with Short Float at 5.62%. Institutions hold 77.39% of the Float.

The top institutional shareholder in the company is FIL LTD with over 5.01 million shares valued at $59.84 million. The investor’s holdings represent 8.30% of the MMYT Shares outstanding. As of Mar 30, 2020, the second largest holder is Massachusetts Financial Services Co. with 4.92 million shares valued at $58.83 million to account for 8.16% of the shares outstanding. The other top investors are Baillie Gifford and Company which holds 3.6 million shares representing 5.97% and valued at over $43.01 million, while Ward Ferry Management (BVI) Ltd holds 5.25% of the shares totaling 3.17 million with a market value of $37.88 million.

MakeMyTrip Limited (MMYT): Who are the competitors?

The company’s main competitors (and peers) include Expedia Group Inc. (EXPE) that is trading -36.34% down over the past 12 months. Short interest in the company’s stock has fallen -30.89% from the last report on May 28, 2020 to stand at a total of 3.22 million short shares sold with a short interest ratio of 6.15.

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