Hsbc Holdings PLC Makes New Investment in MakeMyTrip Limited (NASDAQ:MMYT)

Hsbc Holdings PLC bought a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the second quarter, HoldingsChannel.com reports. The firm bought 13,106 shares of the technology company’s stock, valued at approximately $1,102,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMYT. EverSource Wealth Advisors LLC boosted its holdings in MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after buying an additional 332 shares during the last quarter. Fifth Third Bancorp bought a new position in MakeMyTrip during the second quarter worth about $59,000. nVerses Capital LLC bought a new position in shares of MakeMyTrip during the 2nd quarter valued at about $143,000. LRI Investments LLC bought a new position in shares of MakeMyTrip during the 1st quarter valued at about $149,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of MakeMyTrip during the 2nd quarter valued at about $269,000. Institutional investors own 51.89% of the company’s stock.

Analyst Ratings Changes

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

MakeMyTrip Stock Up 0.5 %

Shares of MakeMyTrip stock opened at $94.96 on Friday. The business’s 50 day simple moving average is $96.22 and its 200 day simple moving average is $82.88. MakeMyTrip Limited has a 52-week low of $36.81 and a 52-week high of $110.49. The firm has a market cap of $10.42 billion, a PE ratio of 56.86, a P/E/G ratio of 5.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78.

MakeMyTrip (NASDAQ:MMYT) last announced its 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. 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, analysts predict that MakeMyTrip Limited will post 1.38 earnings per share 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.