Van ECK Associates Corp Sells 5,493 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Van ECK Associates Corp lessened its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 32.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,184 shares of the technology company’s stock after selling 5,493 shares during the period. Van ECK Associates Corp’s holdings in MakeMyTrip were worth $1,256,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Caprock Group LLC grew its holdings in MakeMyTrip by 6.4% during the third quarter. Caprock Group LLC now owns 3,726 shares of the technology company’s stock valued at $346,000 after purchasing an additional 224 shares during the period. Advisors Asset Management Inc. lifted its position in shares of MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after acquiring an additional 225 shares in the last quarter. USA Financial Formulas purchased a new position in shares of MakeMyTrip in the fourth quarter valued at about $35,000. Robeco Institutional Asset Management B.V. lifted its position in shares of MakeMyTrip by 1.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,616 shares of the technology company’s stock valued at $3,887,000 after acquiring an additional 400 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of MakeMyTrip by 17.7% in the fourth quarter. Bleakley Financial Group LLC now owns 3,272 shares of the technology company’s stock valued at $367,000 after acquiring an additional 493 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $97.87 on Friday. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $10.74 billion, a P/E ratio of 53.19, a P/E/G ratio of 6.73 and a beta of 1.28. MakeMyTrip Limited has a 12 month low of $56.72 and a 12 month high of $123.00. The business’s 50-day moving average is $110.24 and its 200 day moving average is $104.87.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. On average, equities research analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Bank of America boosted their price objective on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, December 27th.

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.