Seven Eight Capital LP Purchases Shares of 4,349 MakeMyTrip Limited (NASDAQ:MMYT)

Seven Eight Capital LP purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,349 shares of the technology company’s stock, valued at approximately $366,000.

Several other institutional investors also recently modified their holdings of MMYT. EverSource Wealth Advisors LLC lifted its holdings in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after buying an additional 332 shares during the period. Fifth Third Bancorp acquired a new position in shares of MakeMyTrip in the second quarter worth approximately $59,000. nVerses Capital LLC bought a new stake in MakeMyTrip in the second quarter valued at approximately $143,000. LRI Investments LLC acquired a new stake in MakeMyTrip during the 1st quarter valued at approximately $149,000. Finally, Catalytic Wealth RIA LLC bought a new position in MakeMyTrip during the 4th quarter worth approximately $207,000. Institutional investors own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup increased their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th.

MakeMyTrip Stock Up 1.5 %

Shares of NASDAQ MMYT opened at $108.47 on Monday. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.91 billion, a PE ratio of 64.95, a P/E/G ratio of 5.33 and a beta of 1.28. The company’s fifty day simple moving average is $94.67 and its 200 day simple moving average is $81.71. MakeMyTrip Limited has a 12-month low of $36.81 and a 12-month high of $109.70.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The company had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. As a group, sell-side analysts forecast that MakeMyTrip Limited will post 1.38 earnings per share for the current fiscal year.

About MakeMyTrip

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.