Ground Swell Capital LLC Purchases New Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Ground Swell Capital LLC acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 3rd quarter, Holdings Channel reports. The firm acquired 2,495 shares of the technology company’s stock, valued at approximately $232,000.

A number of other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of MakeMyTrip in the first quarter worth $6,470,000. Flossbach Von Storch AG bought a new position in MakeMyTrip during the 1st quarter worth approximately $1,776,000. Oppenheimer & Co. Inc. acquired a new position in shares of MakeMyTrip in the 1st quarter worth approximately $283,000. Capital Wealth Planning LLC bought a new stake in shares of MakeMyTrip in the 1st quarter valued at approximately $2,274,000. Finally, Russell Investments Group Ltd. lifted its stake in MakeMyTrip by 117.5% during the first quarter. Russell Investments Group Ltd. now owns 234,203 shares of the technology company’s stock worth $16,640,000 after purchasing an additional 126,505 shares during the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Citigroup increased their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

MakeMyTrip Stock Performance

MMYT opened at $103.19 on Monday. MakeMyTrip Limited has a twelve month low of $38.05 and a twelve month high of $110.49. The stock has a market cap of $11.33 billion, a PE ratio of 56.39, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27. The business’s 50 day moving average is $99.69 and its 200-day moving average is $88.67. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, analysts predict that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

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.