Bank of New York Mellon Corp Acquires 297,493 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Bank of New York Mellon Corp grew its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 939.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 329,173 shares of the technology company’s stock after acquiring an additional 297,493 shares during the quarter. Bank of New York Mellon Corp owned 0.30% of MakeMyTrip worth $36,959,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MMYT. USA Financial Formulas bought a new position in MakeMyTrip during the 4th quarter worth approximately $35,000. Advisors Asset Management Inc. grew its position in MakeMyTrip by 100.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after purchasing an additional 225 shares during the period. R Squared Ltd acquired a new stake in MakeMyTrip in the 4th quarter valued at $99,000. BOCHK Asset Management Ltd grew its position in MakeMyTrip by 266.7% in the 4th quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock valued at $124,000 after purchasing an additional 800 shares during the period. Finally, D Orazio & Associates Inc. acquired a new stake in MakeMyTrip in the 3rd quarter valued at $210,000. Institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MMYT. Bank of America lifted their price objective on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th.

MakeMyTrip Stock Up 0.1 %

Shares of MMYT opened at $87.11 on Friday. The firm has a market cap of $9.56 billion, a P/E ratio of 47.34, a P/E/G ratio of 6.56 and a beta of 1.36. The stock has a 50 day simple moving average of $105.52 and a two-hundred day simple moving average of $104.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. MakeMyTrip Limited has a 1 year low of $59.51 and a 1 year high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. On average, analysts forecast 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.