Advisors Asset Management Inc. Increases Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Advisors Asset Management Inc. grew its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 100.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 448 shares of the technology company’s stock after acquiring an additional 225 shares during the quarter. Advisors Asset Management Inc.’s holdings in MakeMyTrip were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Park Place Capital Corp purchased a new stake in MakeMyTrip in the third quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in shares of MakeMyTrip by 163.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp acquired a new stake in shares of MakeMyTrip in the 2nd quarter valued at about $59,000. nVerses Capital LLC purchased a new position in MakeMyTrip during the 2nd quarter worth approximately $143,000. Finally, D Orazio & Associates Inc. acquired a new position in MakeMyTrip during the third quarter worth approximately $210,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Stock Up 0.6 %

MMYT opened at $114.74 on Friday. MakeMyTrip Limited has a 52 week low of $41.56 and a 52 week high of $116.00. The business has a 50 day moving average price of $103.02 and a two-hundred day moving average price of $93.81. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The company has a market cap of $12.60 billion, a PE ratio of 62.70, a P/E/G ratio of 6.41 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter last year, the business earned $0.18 EPS. As a group, research analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MMYT. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America increased their price target on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

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.