86,374 Shares of MakeMyTrip Limited $MMYT Acquired by Avestar Capital LLC

Avestar Capital LLC bought a new stake in MakeMyTrip Limited (NASDAQ:MMYT) in the third quarter, Holdings Channel reports. The fund bought 86,374 shares of the technology company’s stock, valued at approximately $4,077,000.

A number of other hedge funds have also modified their holdings of MMYT. Wasatch Advisors LP lifted its holdings in shares of MakeMyTrip by 5.7% during the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock worth $131,811,000 after buying an additional 133,723 shares during the last quarter. Royal Bank of Canada grew its stake in shares of MakeMyTrip by 53.8% during the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock worth $130,464,000 after purchasing an additional 1,223,963 shares during the period. Temasek Holdings Private Ltd bought a new stake in MakeMyTrip during the 1st quarter worth approximately $63,447,000. Coronation Fund Managers Ltd. boosted its stake in shares of MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after buying an additional 280,923 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of MakeMyTrip by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock worth $51,725,000 after purchasing an additional 413,087 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on MMYT shares. Weiss Ratings raised shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Zacks Research lowered shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Bank of America decreased their price target on shares of MakeMyTrip from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, MakeMyTrip has a consensus rating of “Moderate Buy” and a consensus target price of $72.25.

MakeMyTrip Stock Down 0.7%

Shares of NASDAQ:MMYT opened at $42.68 on Friday. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $86.94. The business has a fifty day simple moving average of $48.73 and a 200-day simple moving average of $50.98. The company has a market cap of $4.01 billion, a P/E ratio of 28.10 and a beta of 1.07.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Monday, October 26th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.43. The business had revenue of $235.16 million during the quarter, compared to the consensus estimate of $269.09 million. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. Sell-side analysts expect that MakeMyTrip Limited will post 1.54 earnings per share for the current fiscal year.

About MakeMyTrip

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.