Allspring Global Investments Holdings LLC Decreases Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Allspring Global Investments Holdings LLC trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,678 shares of the technology company’s stock after selling 150 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MakeMyTrip were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MMYT. Baillie Gifford & Co. lifted its stake in shares of MakeMyTrip by 85.7% during the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after acquiring an additional 1,879,726 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of MakeMyTrip by 64.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after purchasing an additional 1,357,884 shares during the period. Schroder Investment Management Group grew its holdings in shares of MakeMyTrip by 39.2% in the fourth quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after purchasing an additional 734,336 shares during the last quarter. William Blair Investment Management LLC purchased a new position in MakeMyTrip in the 1st quarter worth about $50,543,000. Finally, Janus Henderson Group PLC lifted its holdings in MakeMyTrip by 143.2% during the 1st quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock valued at $32,574,000 after buying an additional 269,988 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MMYT shares. Citigroup raised their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America increased their price target on MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $94.58 on Thursday. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 56.63, a PEG ratio of 7.26 and a beta of 1.28. MakeMyTrip Limited has a 52-week low of $36.81 and a 52-week high of $101.50. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $91.20 and its 200 day moving average is $77.95.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The business 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%. On average, sell-side analysts anticipate that MakeMyTrip Limited will post 1.38 EPS 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.