Fmr LLC Acquires 1,230,916 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Fmr LLC boosted its position in MakeMyTrip Limited (NASDAQ:MMYT) by 51.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,635,473 shares of the technology company’s stock after buying an additional 1,230,916 shares during the period. Fmr LLC’s holdings in MakeMyTrip were worth $337,917,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MMYT. Baillie Gifford & Co. lifted its stake in shares of MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after acquiring an additional 1,879,726 shares during the last quarter. Jennison Associates LLC raised its stake in 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 in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of MakeMyTrip by 54.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after buying an additional 387,695 shares in the last quarter. Marshall Wace LLP boosted its stake in MakeMyTrip by 129.2% during the second 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of MakeMyTrip by 20.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after buying an additional 107,814 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

MakeMyTrip Stock Up 0.6 %

Shares of MMYT opened at $114.74 on Friday. The business has a fifty day moving average of $103.02 and a 200 day moving average of $93.81. MakeMyTrip Limited has a 52-week low of $41.56 and a 52-week high of $116.00. 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 has a market cap 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 issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period last year, the company posted $0.18 earnings per share. On average, sell-side analysts expect that MakeMyTrip Limited will post 1.29 EPS 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.