Perpetual Ltd Reduces Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Perpetual Ltd reduced its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,243 shares of the technology company’s stock after selling 4,127 shares during the period. Perpetual Ltd’s holdings in MakeMyTrip were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MMYT. Park Place Capital Corp bought a new stake in shares of MakeMyTrip during the third quarter valued at approximately $25,000. USA Financial Formulas purchased a new stake in MakeMyTrip during the fourth quarter valued at $35,000. Advisors Asset Management Inc. lifted its position in MakeMyTrip by 100.9% during the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after purchasing an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of MakeMyTrip by 44.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock worth $65,000 after buying an additional 236 shares in the last quarter. Finally, D Orazio & Associates Inc. purchased a new stake in shares of MakeMyTrip during the 3rd quarter valued at about $210,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $103.15 on Thursday. MakeMyTrip Limited has a fifty-two week low of $47.04 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 $11.32 billion, a price-to-earnings ratio of 56.37, a PEG ratio of 5.75 and a beta of 1.29. The stock’s 50-day simple moving average is $111.59 and its 200-day simple moving average is $102.16.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MMYT shares. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America lifted their price objective on shares of 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.