Envestnet Asset Management Inc. Has $2.28 Million Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Envestnet Asset Management Inc. raised its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 43.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,314 shares of the technology company’s stock after purchasing an additional 6,188 shares during the quarter. Envestnet Asset Management Inc.’s holdings in MakeMyTrip were worth $2,281,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MMYT. Geode Capital Management LLC raised its position in MakeMyTrip by 7.7% during the third quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company’s stock valued at $25,397,000 after buying an additional 19,471 shares during the period. Virtu Financial LLC lifted its position in shares of MakeMyTrip by 338.3% in the third quarter. Virtu Financial LLC now owns 11,593 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 8,948 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of MakeMyTrip by 5.9% during the third quarter. Tidal Investments LLC now owns 39,981 shares of the technology company’s stock worth $3,716,000 after purchasing an additional 2,221 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in MakeMyTrip during the third quarter valued at approximately $1,134,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in MakeMyTrip during the fourth quarter valued at approximately $1,143,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th.

MakeMyTrip Stock Up 1.5 %

Shares of MakeMyTrip stock opened at $107.64 on Friday. The stock has a 50-day simple moving average of $97.56 and a 200-day simple moving average of $105.02. MakeMyTrip Limited has a 52-week low of $65.54 and a 52-week high of $123.00. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 58.50, a P/E/G ratio of 6.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. On average, equities research analysts expect that MakeMyTrip Limited will post 1.27 earnings per share 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.