Rakuten Securities Inc. Purchases New Position in MakeMyTrip Limited (NASDAQ:MMYT)

Rakuten Securities Inc. acquired a new position in MakeMyTrip Limited (NASDAQ:MMYT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,082 shares of the technology company’s stock, valued at approximately $379,000.

Several other institutional investors have also added to or reduced their stakes in MMYT. Park Place Capital Corp bought a new stake in MakeMyTrip in the third quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its stake in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after purchasing an additional 332 shares during the last quarter. Fifth Third Bancorp bought a new stake in MakeMyTrip in the second quarter worth about $59,000. nVerses Capital LLC bought a new stake in MakeMyTrip in the second quarter worth about $143,000. Finally, LRI Investments LLC bought a new stake in MakeMyTrip in the first quarter worth about $149,000. Institutional investors own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MMYT shares. Bank of America lifted their price target on shares of MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup lifted their price target on shares of MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $106.92 on Tuesday. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 58.43, a PEG ratio of 6.00 and a beta of 1.27. The company’s 50 day moving average is $100.52 and its 200 day moving average is $90.16. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 52-week low of $41.11 and a 52-week high of $113.61.

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 the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period last year, the company posted $0.18 earnings per share. On average, sell-side analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

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.