Allen Investment Management LLC Acquires New Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Allen Investment Management LLC acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 66,398 shares of the technology company’s stock, valued at approximately $5,584,000.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after acquiring an additional 332 shares during the period. Fifth Third Bancorp purchased a new position in MakeMyTrip in the 2nd quarter valued at approximately $59,000. nVerses Capital LLC acquired a new position in MakeMyTrip during the second quarter worth $143,000. LRI Investments LLC acquired a new position in MakeMyTrip during the first quarter worth $149,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in MakeMyTrip during the second quarter worth $269,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the subject of several research reports. Citigroup lifted their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America upped their price target on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.

MakeMyTrip Stock Up 1.5 %

MMYT opened at $102.79 on Friday. The business’s fifty day simple moving average is $92.97 and its 200 day simple moving average is $79.82. MakeMyTrip Limited has a 52 week low of $36.81 and a 52 week high of $104.35. The firm has a market cap of $11.28 billion, a P/E ratio of 61.55, a PEG ratio of 5.33 and a beta of 1.28. 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 (NASDAQ:MMYT) last issued its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The company had revenue of $254.52 million for the quarter, compared to analyst estimates of $231.85 million. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 1.38 EPS for the current fiscal 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.