CoreCap Advisors LLC Takes Position in MakeMyTrip Limited (NASDAQ:MMYT)

CoreCap Advisors LLC acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 5,942 shares of the technology company’s stock, valued at approximately $500,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Thornburg Investment Management Inc. grew its stake in shares of MakeMyTrip by 0.8% in the second quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock valued at $2,100,000 after buying an additional 204 shares in the last quarter. Caprock Group LLC purchased a new position in MakeMyTrip during the 2nd quarter valued at about $295,000. Acadian Asset Management LLC increased its stake in MakeMyTrip by 27.1% during the second quarter. Acadian Asset Management LLC now owns 343,235 shares of the technology company’s stock worth $28,854,000 after purchasing an additional 73,092 shares during the period. nVerses Capital LLC acquired a new stake in shares of MakeMyTrip during the second quarter worth about $143,000. Finally, Van ECK Associates Corp boosted its stake in shares of MakeMyTrip by 5.9% in the second quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock valued at $1,191,000 after purchasing an additional 791 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup upped 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. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their target price on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.

MakeMyTrip Trading Up 1.5 %

NASDAQ MMYT opened at $102.79 on Friday. MakeMyTrip Limited has a 52 week low of $36.81 and a 52 week high of $104.35. The firm has a 50 day moving average of $92.97 and a two-hundred day moving average of $79.82. The stock has a market capitalization of $11.28 billion, a PE ratio of 61.55, a price-to-earnings-growth 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 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 firm had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. As a group, research analysts expect that MakeMyTrip Limited will post 1.38 EPS for the current fiscal year.

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.