MakeMyTrip Limited (NASDAQ:MMYT) Position Raised by Fmr LLC

Fmr LLC lifted its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 51.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,635,473 shares of the technology company’s stock after purchasing an additional 1,230,916 shares during the period. Fmr LLC owned about 3.31% of MakeMyTrip worth $337,917,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in MakeMyTrip by 85.7% during the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after acquiring an additional 1,879,726 shares during the period. Jennison Associates LLC lifted its stake in shares of MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after buying an additional 1,710,773 shares during the last quarter. William Blair Investment Management LLC raised its holdings in MakeMyTrip by 54.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock worth $92,431,000 after acquiring an additional 387,695 shares during the period. Marshall Wace LLP lifted its position in MakeMyTrip by 129.2% during the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after acquiring an additional 539,067 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in MakeMyTrip by 20.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after purchasing an additional 107,814 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $114.74 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $103.02 and a 200 day simple moving average of $93.81. MakeMyTrip Limited has a 1-year low of $41.56 and a 1-year high of $116.00. The stock has a market capitalization of $12.60 billion, a PE ratio of 62.70, a P/E/G ratio of 6.41 and a beta of 1.27.

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

Wall Street Analyst Weigh In

Several research firms have commented on MMYT. Bank of America upped their price target on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

MakeMyTrip 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.