MakeMyTrip Limited (NASDAQ:MMYT) Position Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 632,062 shares of the technology company’s stock after purchasing an additional 107,814 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.58% of MakeMyTrip worth $58,750,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America raised their price target on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $114.11 on Thursday. The company has a 50-day moving average price of $102.75 and a two-hundred day moving average price of $93.28. MakeMyTrip Limited has a 52 week low of $41.56 and a 52 week high of $114.92. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 62.36, a price-to-earnings-growth ratio of 6.18 and a beta of 1.27. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last posted 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 firm had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $214.90 million. During the same period last year, the firm earned $0.18 EPS. Analysts forecast that MakeMyTrip Limited will post 1.29 EPS for the current year.

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.