Daiwa Securities Group Inc. Cuts Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Daiwa Securities Group Inc. cut its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 38.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,467 shares of the technology company’s stock after selling 921 shares during the quarter. Daiwa Securities Group Inc.’s holdings in MakeMyTrip were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Capital Advisors LLC boosted its position in MakeMyTrip by 0.9% during the third quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 175 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in shares of MakeMyTrip by 0.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock worth $2,100,000 after buying an additional 204 shares during the last quarter. Caprock Group LLC boosted its position in shares of MakeMyTrip by 6.4% in the 3rd quarter. Caprock Group LLC now owns 3,726 shares of the technology company’s stock worth $346,000 after buying an additional 224 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of MakeMyTrip by 100.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock worth $42,000 after buying an additional 225 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in MakeMyTrip by 44.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock valued at $65,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the topic of several research reports. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America upped their target price on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

MakeMyTrip Price Performance

MMYT stock opened at $114.74 on Monday. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 62.70, a price-to-earnings-growth ratio of 6.45 and a beta of 1.27. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 52-week low of $41.56 and a 52-week high of $116.00. The stock’s fifty day simple moving average is $103.02 and its 200-day simple moving average is $93.87.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The firm had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same period last year, the company earned $0.18 EPS. Equities research analysts expect that MakeMyTrip Limited will post 1.29 EPS for the current 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.