Federated Hermes Inc. Lowers Position in MakeMyTrip Limited (NASDAQ:MMYT)

Federated Hermes Inc. decreased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 45.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,730 shares of the technology company’s stock after selling 5,617 shares during the quarter. Federated Hermes Inc.’s holdings in MakeMyTrip were worth $566,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. FIL Ltd boosted its position in shares of MakeMyTrip by 1.2% during the 4th quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after acquiring an additional 74,951 shares during the last quarter. Baillie Gifford & Co. raised its stake in MakeMyTrip by 85.7% during the second quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after purchasing an additional 1,879,726 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in 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 last quarter. Schroder Investment Management Group grew its stake in shares of MakeMyTrip by 39.2% in the 4th quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after buying an additional 734,336 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of MakeMyTrip in the 1st quarter worth about $50,543,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MMYT shares. Bank of America lifted 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. Citigroup boosted their target price on MakeMyTrip from $93.00 to $115.00 and gave the company 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.

MakeMyTrip Trading Up 1.6 %

MMYT opened at $110.24 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78. The stock’s 50 day moving average price is $95.05 and its 200-day moving average price is $82.06. MakeMyTrip Limited has a one year low of $36.81 and a one year high of $110.49. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 66.01, a P/E/G ratio of 5.33 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The business had revenue of $254.52 million for the quarter, compared to analyst estimates of $231.85 million. On average, equities analysts forecast that MakeMyTrip Limited will post 1.38 EPS for the current 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.