Diversify Advisory Services LLC Makes New $303,000 Investment in MakeMyTrip Limited (NASDAQ:MMYT)

Diversify Advisory Services LLC purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,882 shares of the technology company's stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MakeMyTrip by 9,724.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock worth $2,364,732,000 after buying an additional 23,886,735 shares during the period. Schroder Investment Management Group raised its holdings in shares of MakeMyTrip by 3.6% during the fourth quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company's stock worth $462,470,000 after acquiring an additional 141,507 shares in the last quarter. FMR LLC raised its holdings in shares of MakeMyTrip by 4.3% during the fourth quarter. FMR LLC now owns 3,793,574 shares of the technology company's stock worth $425,942,000 after acquiring an additional 158,101 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of MakeMyTrip by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 1,503,980 shares of the technology company's stock worth $168,867,000 after acquiring an additional 13,157 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in MakeMyTrip by 17.4% during the fourth quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company's stock valued at $142,528,000 after buying an additional 188,234 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MMYT has been the topic of a number of recent research reports. Wall Street Zen raised MakeMyTrip from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Tuesday, June 24th. Finally, Citigroup lifted their target price on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, May 15th.

MakeMyTrip Stock Performance

MMYT traded up $2.70 during midday trading on Tuesday, reaching $100.40. The company had a trading volume of 2,753,767 shares, compared to its average volume of 847,587. The business has a 50-day moving average price of $98.41 and a two-hundred day moving average price of $101.08. MakeMyTrip Limited has a 12-month low of $76.95 and a 12-month high of $123.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $11.17 billion, a PE ratio of 120.97 and a beta of 0.85.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.09). MakeMyTrip had a return on equity of 12.13% and a net margin of 9.72%. On average, sell-side analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

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.