Ghisallo Capital Management LLC Lowers Holdings in MakeMyTrip Limited $MMYT

Ghisallo Capital Management LLC decreased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 55.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333,400 shares of the technology company’s stock after selling 416,600 shares during the quarter. MakeMyTrip makes up 1.0% of Ghisallo Capital Management LLC’s holdings, making the stock its 22nd largest holding. Ghisallo Capital Management LLC owned about 0.30% of MakeMyTrip worth $31,206,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after purchasing an additional 284 shares during the period. Jones Financial Companies Lllp increased its holdings in MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after buying an additional 884 shares during the period. Banque Cantonale Vaudoise bought a new position in MakeMyTrip in the third quarter worth approximately $168,000. Osaic Holdings Inc. raised its stake in MakeMyTrip by 10.2% in the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after buying an additional 188 shares in the last quarter. Finally, Paradice Investment Management LLC purchased a new stake in MakeMyTrip during the third quarter worth $201,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

Shares of MMYT opened at $45.50 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a market cap of $5.06 billion, a PE ratio of 94.79, a P/E/G ratio of 1.57 and a beta of 0.64. MakeMyTrip Limited has a 12 month low of $45.04 and a 12 month high of $113.85. The stock has a fifty day moving average price of $61.90 and a 200-day moving average price of $77.93.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The firm had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. Equities research analysts predict that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MMYT shares. Bank of America decreased their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Finally, Citigroup cut their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, MakeMyTrip currently has an average rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.