Carrhae Capital LLP Raises Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Carrhae Capital LLP raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 354,959 shares of the technology company’s stock after purchasing an additional 61,138 shares during the period. MakeMyTrip makes up about 3.8% of Carrhae Capital LLP’s investment portfolio, making the stock its 13th largest holding. Carrhae Capital LLP owned 0.32% of MakeMyTrip worth $32,993,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MMYT. Baillie Gifford & Co. boosted its stake in shares of MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after buying an additional 1,879,726 shares during the last quarter. William Blair Investment Management LLC purchased a new position in MakeMyTrip during the first quarter valued at $50,543,000. Marshall Wace LLP lifted its position in MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after purchasing an additional 539,067 shares in the last quarter. Janus Henderson Group PLC lifted its position in MakeMyTrip by 143.2% during the first quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock valued at $32,574,000 after purchasing an additional 269,988 shares in the last quarter. Finally, Sei Investments Co. lifted its position in MakeMyTrip by 39.7% during the second quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock valued at $38,599,000 after purchasing an additional 130,424 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Trading Down 1.1 %

Shares of MMYT stock opened at $101.43 on Monday. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 60.74, a price-to-earnings-growth ratio of 5.65 and a beta of 1.28. The stock’s 50-day moving average price is $98.45 and its 200-day moving average price is $86.29. 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 12-month low of $36.81 and a 12-month high of $110.49.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The firm had revenue of $254.52 million during the quarter, compared to analyst estimates of $231.85 million. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. Equities research analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on MMYT. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Bank of America raised their price target on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Citigroup raised their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

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.