Exchange Traded Concepts LLC Acquires 1,901 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Park Place Capital Corp purchased a new position in shares of MakeMyTrip during the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in MakeMyTrip by 163.5% during the 1st 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 last quarter. Fifth Third Bancorp bought a new stake in shares of MakeMyTrip in the 2nd quarter worth $59,000. nVerses Capital LLC bought a new stake in shares of MakeMyTrip in the 2nd quarter worth $143,000. Finally, LRI Investments LLC purchased a new stake in shares of MakeMyTrip in the first quarter valued at about $149,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

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

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The company had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. As a group, equities analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

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