Perpetual Ltd Sells 4,127 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Perpetual Ltd decreased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 30.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,243 shares of the technology company’s stock after selling 4,127 shares during the quarter. Perpetual Ltd’s holdings in MakeMyTrip were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SeaTown Holdings Pte. Ltd. bought a new position in MakeMyTrip in the 4th quarter valued at about $11,258,000. USA Financial Formulas bought a new position in shares of MakeMyTrip during the fourth quarter valued at $35,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of MakeMyTrip in the fourth quarter valued at about $1,143,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of MakeMyTrip during the third quarter worth $1,134,000. Finally, Tidal Investments LLC raised its position in shares of MakeMyTrip by 5.9% in the 3rd quarter. Tidal Investments LLC now owns 39,981 shares of the technology company’s stock worth $3,716,000 after acquiring an additional 2,221 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock opened at $103.15 on Thursday. The company has a fifty day moving average of $111.59 and a 200-day moving average of $102.16. MakeMyTrip Limited has a 52-week low of $47.04 and a 52-week high of $123.00. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 5.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the previous year, the firm earned $0.18 EPS. Equities research analysts expect that MakeMyTrip Limited will post 1.29 EPS for the current year.

Analysts Set New Price Targets

MMYT has been the topic of several research reports. Bank of America upped their price objective on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

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.