Raymond James & Associates Decreases Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Raymond James & Associates cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,468 shares of the technology company’s stock after selling 3,320 shares during the quarter. Raymond James & Associates’ holdings in MakeMyTrip were worth $1,385,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MMYT. Russell Investments Group Ltd. raised its stake in shares of MakeMyTrip by 39.9% during the fourth quarter. Russell Investments Group Ltd. now owns 107,698 shares of the technology company’s stock worth $5,060,000 after acquiring an additional 30,710 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of MakeMyTrip by 29.8% in the fourth quarter. Fisher Asset Management LLC now owns 94,606 shares of the technology company’s stock worth $4,445,000 after buying an additional 21,733 shares during the period. Jump Financial LLC purchased a new position in shares of MakeMyTrip in the fourth quarter worth $627,000. USA Financial Formulas purchased a new position in shares of MakeMyTrip in the fourth quarter worth $50,000. Finally, Thornburg Investment Management Inc. increased its stake in shares of MakeMyTrip by 6.5% in the fourth quarter. Thornburg Investment Management Inc. now owns 37,848 shares of the technology company’s stock worth $1,739,000 after buying an additional 2,320 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Up 6.7 %

Shares of MakeMyTrip stock opened at $94.58 on Thursday. 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 company’s fifty day simple moving average is $91.20 and its two-hundred day simple moving average is $77.95. The company has a market cap of $10.38 billion, a P/E ratio of 56.83, a PEG ratio of 7.26 and a beta of 1.28. MakeMyTrip Limited has a 12-month low of $36.81 and a 12-month high of $101.50.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MMYT. Bank of America lifted their target price on shares of MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. 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, StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

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.