Confluence Investment Management LLC Sells 133 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Confluence Investment Management LLC cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,927 shares of the technology company’s stock after selling 133 shares during the period. Confluence Investment Management LLC’s holdings in MakeMyTrip were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMYT. EverSource Wealth Advisors LLC lifted its holdings in shares of MakeMyTrip by 163.5% in the first 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in MakeMyTrip during the first quarter worth about $283,000. LRI Investments LLC bought a new stake in MakeMyTrip during the first quarter worth about $149,000. Tidal Investments LLC bought a new stake in MakeMyTrip during the first quarter worth about $3,891,000. Finally, Janus Henderson Group PLC raised its holdings in MakeMyTrip by 143.2% during the first quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock worth $32,574,000 after acquiring an additional 269,988 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MakeMyTrip news, insider Magow Rajesh 7,768 shares of the stock in a transaction dated Monday, July 29th. The was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MMYT shares. Citigroup upped their target price on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America boosted their price target on MakeMyTrip from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, MakeMyTrip has an average rating of “Moderate Buy” and an average price target of $91.67.

MakeMyTrip Price Performance

NASDAQ:MMYT traded down $3.06 during trading hours on Monday, reaching $81.83. 492,695 shares of the company were exchanged, compared to its average volume of 772,869. The company has a market capitalization of $8.98 billion, a P/E ratio of 50.83, a P/E/G ratio of 6.76 and a beta of 1.30. MakeMyTrip Limited has a 1-year low of $32.85 and a 1-year high of $100.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. The business has a 50 day moving average of $84.42 and a 200 day moving average of $71.75.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The firm had revenue of $202.89 million during the quarter, compared to analysts’ expectations of $195.15 million. Research analysts forecast that MakeMyTrip Limited will post 0.98 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.