Driehaus Capital Management LLC Buys 8,957 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Driehaus Capital Management LLC lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 51.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 26,466 shares of the technology company’s stock after purchasing an additional 8,957 shares during the quarter. Driehaus Capital Management LLC’s holdings in MakeMyTrip were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in MakeMyTrip by 163.5% in 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 in the last quarter. Fifth Third Bancorp purchased a new position in MakeMyTrip during the second quarter valued at approximately $59,000. nVerses Capital LLC bought a new position in shares of MakeMyTrip in the second quarter worth approximately $143,000. LRI Investments LLC purchased a new stake in shares of MakeMyTrip in the first quarter worth $149,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of MakeMyTrip during the 2nd quarter valued at $269,000. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $94.96 on Monday. The firm’s fifty day moving average is $96.22 and its two-hundred day moving average is $83.01. MakeMyTrip Limited has a 52-week low of $36.81 and a 52-week high of $110.49. The company has a market cap of $10.42 billion, a P/E ratio of 56.86, a P/E/G ratio of 5.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) 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 firm had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. As a group, analysts anticipate that MakeMyTrip Limited will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.