Avestar Capital LLC purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 86,374 shares of the technology company's stock, valued at approximately $4,077,000. Avestar Capital LLC owned about 0.09% of MakeMyTrip at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Wasatch Advisors LP boosted its holdings in MakeMyTrip by 5.7% in the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company's stock worth $131,811,000 after buying an additional 133,723 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of MakeMyTrip by 53.8% in the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company's stock valued at $130,464,000 after buying an additional 1,223,963 shares in the last quarter. Temasek Holdings Private Ltd purchased a new position in MakeMyTrip during the 1st quarter worth $63,447,000. Coronation Fund Managers Ltd. raised its position in shares of MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company's stock worth $57,136,000 after purchasing an additional 280,923 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in MakeMyTrip by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company's stock worth $51,725,000 after acquiring an additional 413,087 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.
MakeMyTrip Trading Down 0.7%
Shares of NASDAQ MMYT opened at $42.68 on Friday. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $86.94. The stock has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $50.98. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 28.10 and a beta of 1.07.
MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its earnings results on Monday, October 26th. The technology company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.43. MakeMyTrip had a net margin of 3.91% and a negative return on equity of 312.82%. The firm had revenue of $235.16 million for the quarter, compared to analysts' expectations of $269.09 million. Analysts forecast that MakeMyTrip Limited will post 1.54 EPS for the current year.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Weiss Ratings raised MakeMyTrip from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Bank of America lowered their price objective on shares of MakeMyTrip from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday. Wall Street Zen upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Finally, Zacks Research downgraded MakeMyTrip from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $72.25.
Check Out Our Latest Report on MakeMyTrip
About MakeMyTrip
(
Free Report)
MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.
The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.
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