Oxbow Capital Management HK Ltd Lowers Stock Position in MakeMyTrip Limited $MMYT

Oxbow Capital Management HK Ltd lessened its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 97.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,275 shares of the technology company’s stock after selling 350,415 shares during the period. MakeMyTrip accounts for approximately 0.2% of Oxbow Capital Management HK Ltd’s holdings, making the stock its 11th biggest position. Oxbow Capital Management HK Ltd’s holdings in MakeMyTrip were worth $868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jump Financial LLC bought a new stake in MakeMyTrip during the third quarter worth about $13,879,000. GeoWealth Management LLC grew its holdings in MakeMyTrip by 4.6% in the third quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock worth $361,000 after purchasing an additional 169 shares during the period. Sei Investments Co. increased its stake in shares of MakeMyTrip by 4.1% during the third quarter. Sei Investments Co. now owns 542,079 shares of the technology company’s stock valued at $50,739,000 after purchasing an additional 21,226 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of MakeMyTrip by 317.5% during the third quarter. Mackenzie Financial Corp now owns 116,490 shares of the technology company’s stock valued at $10,903,000 after purchasing an additional 88,590 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in shares of MakeMyTrip during the third quarter valued at approximately $920,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MakeMyTrip Trading Down 0.1%

Shares of NASDAQ:MMYT opened at $45.50 on Friday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. MakeMyTrip Limited has a 1 year low of $45.04 and a 1 year high of $113.85. The company has a market cap of $5.06 billion, a P/E ratio of 94.79, a PEG ratio of 1.57 and a beta of 0.64. The stock’s fifty day moving average price is $61.90 and its 200-day moving average price is $77.93.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 EPS 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 company had revenue of $295.70 million during the quarter, compared to the consensus estimate of $306.29 million. Sell-side analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

About MakeMyTrip

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.