OPTIMAS CAPITAL Ltd Cuts Stake in MakeMyTrip Limited $MMYT

OPTIMAS CAPITAL Ltd cut its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 75.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,150 shares of the technology company’s stock after selling 30,400 shares during the quarter. MakeMyTrip comprises approximately 0.6% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 28th biggest position. OPTIMAS CAPITAL Ltd’s holdings in MakeMyTrip were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MMYT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MakeMyTrip by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after purchasing an additional 1,721 shares in the last quarter. US Bancorp DE increased its position in shares of MakeMyTrip by 14.9% during the second quarter. US Bancorp DE now owns 7,071 shares of the technology company’s stock valued at $693,000 after acquiring an additional 919 shares in the last quarter. IFP Advisors Inc raised its holdings in MakeMyTrip by 3.0% in the 2nd quarter. IFP Advisors Inc now owns 9,239 shares of the technology company’s stock worth $906,000 after acquiring an additional 266 shares during the last quarter. Aberdeen Group plc raised its holdings in MakeMyTrip by 54.3% in the 2nd quarter. Aberdeen Group plc now owns 5,389 shares of the technology company’s stock worth $528,000 after acquiring an additional 1,897 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in MakeMyTrip by 54.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,486 shares of the technology company’s stock valued at $1,420,000 after acquiring an additional 5,098 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Trading Up 0.0%

Shares of NASDAQ:MMYT opened at $57.10 on Monday. The stock’s 50-day simple moving average is $74.83 and its two-hundred day simple moving average is $85.24. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 118.96, a PEG ratio of 1.96 and a beta of 0.64. MakeMyTrip Limited has a 52-week low of $53.09 and a 52-week high of $118.00. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million during the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. Analysts expect that MakeMyTrip Limited will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

MMYT has been the subject of a number of research analyst reports. Citigroup reduced their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Bank of America decreased their target price on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Finally, Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, MakeMyTrip presently has a consensus rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.