MakeMyTrip Limited (NASDAQ:MMYT) Stock Holdings Trimmed by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,357 shares of the technology company’s stock after selling 570 shares during the period. Confluence Investment Management LLC’s holdings in MakeMyTrip were worth $591,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MMYT. Oppenheimer & Co. Inc. bought a new position in MakeMyTrip during the first quarter worth $283,000. Russell Investments Group Ltd. lifted its position in shares of MakeMyTrip by 117.5% in the 1st quarter. Russell Investments Group Ltd. now owns 234,203 shares of the technology company’s stock worth $16,640,000 after buying an additional 126,505 shares during the last quarter. US Bancorp DE boosted its holdings in shares of MakeMyTrip by 29.3% in the 1st quarter. US Bancorp DE now owns 6,814 shares of the technology company’s stock valued at $484,000 after buying an additional 1,543 shares during the period. Baron Wealth Management LLC bought a new stake in shares of MakeMyTrip during the 1st quarter valued at about $329,000. Finally, William Blair Investment Management LLC acquired a new stake in MakeMyTrip during the first quarter worth about $50,543,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Bank of America lifted their target price on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup boosted 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. Finally, StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Monday, November 4th.

MakeMyTrip Stock Performance

MMYT opened at $106.82 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $100.52 and its 200-day moving average is $89.99. The stock has a market cap of $11.73 billion, a PE ratio of 58.37, a price-to-earnings-growth ratio of 6.38 and a beta of 1.27. MakeMyTrip Limited has a twelve month low of $39.26 and a twelve month high of $113.61.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, analysts predict that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

MakeMyTrip 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.