Blue Trust Inc. Has $1.34 Million Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Blue Trust Inc. increased its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 48.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,402 shares of the technology company’s stock after buying an additional 4,700 shares during the quarter. Blue Trust Inc.’s holdings in MakeMyTrip were worth $1,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MMYT. Harbour Capital Advisors LLC lifted its stake in MakeMyTrip by 10.9% in the first quarter. Harbour Capital Advisors LLC now owns 19,790 shares of the technology company’s stock valued at $1,391,000 after acquiring an additional 1,945 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in MakeMyTrip in the 1st quarter valued at about $6,470,000. Precision Wealth Strategies LLC bought a new position in MakeMyTrip during the first quarter worth about $284,000. Flossbach Von Storch AG bought a new position in MakeMyTrip during the first quarter worth about $1,776,000. Finally, Oppenheimer & Co. Inc. acquired a new position in MakeMyTrip during the first quarter worth approximately $283,000. 51.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MMYT has been the subject of a number of recent analyst reports. Bank of America raised their price objective on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Citigroup raised their price target 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 raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

MakeMyTrip Trading Down 1.1 %

Shares of MMYT stock opened at $101.43 on Friday. MakeMyTrip Limited has a 12-month low of $36.81 and a 12-month high of $110.49. The firm has a 50 day moving average price of $98.45 and a two-hundred day moving average price of $86.19. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.14 billion, a PE ratio of 60.74, a price-to-earnings-growth ratio of 5.65 and a beta of 1.28.

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

About MakeMyTrip

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.