Allen Investment Management LLC Buys Shares of 66,398 MakeMyTrip Limited (NASDAQ:MMYT)

Allen Investment Management LLC acquired a new position in MakeMyTrip Limited (NASDAQ:MMYT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 66,398 shares of the technology company’s stock, valued at approximately $5,584,000. Allen Investment Management LLC owned 0.06% of MakeMyTrip as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Thornburg Investment Management Inc. raised its holdings in MakeMyTrip by 0.8% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock valued at $2,100,000 after buying an additional 204 shares during the period. Bank of New York Mellon Corp increased its holdings in MakeMyTrip by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock valued at $2,583,000 after purchasing an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp acquired a new position in MakeMyTrip during the second quarter worth $59,000. Finally, Van ECK Associates Corp boosted its position in shares of MakeMyTrip by 5.9% during the second quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock worth $1,191,000 after buying an additional 791 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Stock Up 1.5 %

MakeMyTrip stock opened at $102.79 on Friday. The stock’s fifty day moving average is $92.97 and its two-hundred day moving average is $79.82. The stock has a market cap of $11.28 billion, a PE ratio of 61.55, a P/E/G ratio of 5.33 and a beta of 1.28. MakeMyTrip Limited has a 1-year low of $36.81 and a 1-year high of $104.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The firm had revenue of $254.52 million during the quarter, compared to analysts’ expectations of $231.85 million. On average, sell-side analysts expect that MakeMyTrip Limited will post 1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

MMYT has been the topic of several research reports. Citigroup increased their target price on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their price objective on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.

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.