LRI Investments LLC Takes $149,000 Position in MakeMyTrip Limited (NASDAQ:MMYT)

LRI Investments LLC bought a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,968 shares of the technology company’s stock, valued at approximately $149,000.

Other hedge funds have also recently made changes to their positions in the company. USA Financial Formulas bought a new position in MakeMyTrip during the 4th quarter valued at about $50,000. Orion Portfolio Solutions LLC grew its holdings in MakeMyTrip by 3.6% during the 1st quarter. Orion Portfolio Solutions LLC now owns 37,918 shares of the technology company’s stock valued at $2,694,000 after purchasing an additional 1,321 shares during the last quarter. MayTech Global Investments LLC grew its holdings in MakeMyTrip by 0.6% during the 4th quarter. MayTech Global Investments LLC now owns 234,790 shares of the technology company’s stock valued at $11,030,000 after purchasing an additional 1,388 shares during the last quarter. US Bancorp DE grew its holdings in MakeMyTrip by 29.3% during the 1st quarter. US Bancorp DE now owns 6,814 shares of the technology company’s stock valued at $484,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its holdings in MakeMyTrip by 10.9% during the 1st quarter. Harbour Capital Advisors LLC now owns 19,790 shares of the technology company’s stock valued at $1,391,000 after purchasing an additional 1,945 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MakeMyTrip

In related news, insider Magow Rajesh 7,768 shares of the firm’s stock in a transaction dated Monday, July 29th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.30% of the stock is currently owned by corporate insiders.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $84.89 on Friday. 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 firm’s 50 day moving average price is $84.42 and its 200-day moving average price is $71.41. MakeMyTrip Limited has a 52-week low of $32.83 and a 52-week high of $100.22. The company has a market cap of $9.32 billion, a PE ratio of 50.83, a P/E/G ratio of 6.76 and a beta of 1.30.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The firm had revenue of $202.89 million for the quarter, compared to the consensus estimate of $195.15 million. Sell-side analysts forecast that MakeMyTrip Limited will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on MMYT shares. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Bank of America upped their target price on shares of MakeMyTrip from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Citigroup upped their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, MakeMyTrip currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.67.

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.