Redhawk Wealth Advisors Inc. Buys New Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Redhawk Wealth Advisors Inc. purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,179 shares of the technology company’s stock, valued at approximately $1,143,000.

A number of other institutional investors have also modified their holdings of MMYT. FMR LLC grew its holdings in MakeMyTrip by 51.2% during the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock worth $337,917,000 after acquiring an additional 1,230,916 shares during the period. Jennison Associates LLC increased its holdings in shares of MakeMyTrip by 282.4% during the 3rd quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares in the last quarter. Marshall Wace LLP boosted its holdings in MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after buying an additional 539,067 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after buying an additional 107,814 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of MakeMyTrip by 1.3% in the third quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company’s stock worth $47,258,000 after acquiring an additional 6,378 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Trading Up 2.2 %

Shares of MakeMyTrip stock opened at $105.10 on Thursday. MakeMyTrip Limited has a fifty-two week low of $46.31 and a fifty-two week high of $123.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 57.43, a PEG ratio of 5.71 and a beta of 1.29. The stock has a 50 day moving average of $111.66 and a 200 day moving average of $101.56.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, research analysts predict that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on MMYT shares. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America lifted their price target on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 27th.

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.