Wealth Enhancement Advisory Services LLC Purchases New Position in MakeMyTrip Limited (NASDAQ:MMYT)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,202 shares of the technology company’s stock, valued at approximately $269,000.

A number of other institutional investors also recently made changes to their positions in MMYT. FIL Ltd boosted its position in shares of MakeMyTrip by 1.2% in the fourth quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after acquiring an additional 74,951 shares during the period. Artisan Partners Limited Partnership grew its position in shares of MakeMyTrip by 64.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock worth $162,325,000 after purchasing an additional 1,357,884 shares in the last quarter. Schroder Investment Management Group grew its position in shares of MakeMyTrip by 39.2% during the 4th quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after purchasing an additional 734,336 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of MakeMyTrip during the first quarter worth approximately $50,543,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of MakeMyTrip by 49.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 698,156 shares of the technology company’s stock valued at $32,799,000 after buying an additional 230,995 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Down 2.8 %

NASDAQ MMYT opened at $97.23 on Tuesday. The business has a fifty day moving average price of $89.62 and a two-hundred day moving average price of $76.40. The stock has a market capitalization of $10.67 billion, a PE ratio of 58.22, a PEG ratio of 6.76 and a beta of 1.30. MakeMyTrip Limited has a fifty-two week low of $36.81 and a fifty-two week high of $101.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data 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. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The business had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. Equities analysts expect that MakeMyTrip Limited will post 0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Bank of America raised their price objective on MakeMyTrip from $95.00 to $100.00 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 note on Wednesday, July 24th. Finally, Citigroup increased their price objective 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.

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.