MayTech Global Investments LLC Grows Position in MakeMyTrip Limited (NASDAQ:MMYT)

MayTech Global Investments LLC grew its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,324 shares of the technology company’s stock after acquiring an additional 5,294 shares during the quarter. MakeMyTrip comprises approximately 3.1% of MayTech Global Investments LLC’s portfolio, making the stock its 14th biggest holding. MayTech Global Investments LLC’s holdings in MakeMyTrip were worth $20,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings in MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after purchasing an additional 1,879,726 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of MakeMyTrip by 64.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after buying an additional 1,357,884 shares during the period. Schroder Investment Management Group boosted its position in MakeMyTrip by 39.2% during the fourth quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after acquiring an additional 734,336 shares during the last quarter. William Blair Investment Management LLC acquired a new position in MakeMyTrip in the 1st quarter valued at $50,543,000. Finally, Janus Henderson Group PLC lifted its stake in shares of MakeMyTrip by 143.2% during the 1st quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock worth $32,574,000 after purchasing an additional 269,988 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock opened at $102.79 on Friday. The business’s fifty day moving average price is $92.97 and its 200 day moving average price is $79.97. MakeMyTrip Limited has a twelve month low of $36.81 and a twelve month high of $104.35. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $11.28 billion, a P/E ratio of 61.55, a PEG ratio of 5.33 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.23. The business had revenue of $254.52 million for the quarter, compared to analyst estimates of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. As a group, research analysts anticipate that MakeMyTrip Limited will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MMYT. Citigroup lifted their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Bank of America raised their target price on shares of MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, August 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.