Navellier & Associates Inc. Sells 4,233 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Navellier & Associates Inc. lowered its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 10.9% during the third quarter, HoldingsChannel reports. The fund owned 34,535 shares of the technology company’s stock after selling 4,233 shares during the quarter. Navellier & Associates Inc.’s holdings in MakeMyTrip were worth $3,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp bought a new stake in shares of MakeMyTrip during the third quarter worth about $25,000. Advisors Asset Management Inc. grew its holdings in MakeMyTrip by 100.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock worth $42,000 after acquiring an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in MakeMyTrip by 163.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after acquiring an additional 332 shares during the period. Fifth Third Bancorp acquired a new position in MakeMyTrip in the 2nd quarter valued at approximately $59,000. Finally, nVerses Capital LLC bought a new position in shares of MakeMyTrip during the second quarter valued at $143,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

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

MakeMyTrip Price Performance

MMYT stock opened at $107.27 on Thursday. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $101.96 and its 200 day simple moving average is $91.96. MakeMyTrip Limited has a 12-month low of $41.56 and a 12-month high of $113.61. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 58.62, a PEG ratio of 5.79 and a beta of 1.27.

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