MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. decreased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 99.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,493 shares of the technology company’s stock after selling 409,571 shares during the period. Coronation Fund Managers Ltd.’s holdings in MakeMyTrip were worth $210,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares during the last quarter. USA Financial Formulas acquired a new stake in MakeMyTrip in the fourth quarter valued at $50,000. LRI Investments LLC acquired a new stake in shares of MakeMyTrip during the first quarter valued at $149,000. Catalytic Wealth RIA LLC acquired a new stake in shares of MakeMyTrip during the fourth quarter valued at $207,000. Finally, HMS Capital Management LLC acquired a new stake in shares of MakeMyTrip during the first quarter valued at $231,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America increased their price objective on MakeMyTrip from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup increased their target price on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, MakeMyTrip presently has a consensus rating of “Moderate Buy” and an average price target of $91.67.

MakeMyTrip Trading Down 2.0 %

Shares of MakeMyTrip stock traded down $1.93 during trading hours on Friday, reaching $94.63. The stock had a trading volume of 582,897 shares, compared to its average volume of 761,411. The firm has a 50 day simple moving average of $87.28 and a two-hundred day simple moving average of $74.42. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 56.66, a P/E/G ratio of 6.76 and a beta of 1.30. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 1 year low of $35.54 and a 1 year high of $100.22.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. The company had revenue of $254.52 million for the quarter, compared to the consensus estimate of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 0.98 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.