Exchange Traded Concepts LLC Has $3.44 Million Stock Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Exchange Traded Concepts LLC raised its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,997 shares of the technology company’s stock after acquiring an additional 1,901 shares during the quarter. Exchange Traded Concepts LLC’s holdings in MakeMyTrip were worth $3,439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thornburg Investment Management Inc. increased its holdings in MakeMyTrip by 0.8% in the second quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 204 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 236 shares during the last quarter. Park Place Capital Corp acquired a new stake in shares of MakeMyTrip in the third quarter valued at about $25,000. Bank of New York Mellon Corp raised its position in shares of MakeMyTrip by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock worth $2,583,000 after acquiring an additional 324 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of MakeMyTrip in the second quarter worth approximately $59,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $100.99 on Monday. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 52 week low of $36.81 and a 52 week high of $110.49. The firm has a 50 day moving average of $97.08 and a 200-day moving average of $85.05. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 60.47, a price-to-earnings-growth ratio of 5.65 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results 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. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The firm had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. On average, equities analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MMYT. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Citigroup lifted their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Bank of America increased their price target on MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a 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.