MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 61.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,487 shares of the technology company’s stock after selling 69,966 shares during the period. Fred Alger Management LLC’s holdings in MakeMyTrip were worth $4,042,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in MakeMyTrip in the first quarter valued at $2,317,000. DekaBank Deutsche Girozentrale bought a new stake in MakeMyTrip in the 1st quarter valued at about $283,000. EverSource Wealth Advisors LLC boosted its stake in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares during the period. Capital CS Group LLC bought a new position in MakeMyTrip in the 2nd quarter worth about $656,000. Finally, Bank Pictet & Cie Asia Ltd. acquired a new stake in shares of MakeMyTrip in the second quarter valued at approximately $773,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Trading Up 0.6 %

MakeMyTrip stock opened at $114.74 on Friday. MakeMyTrip Limited has a 12-month low of $41.56 and a 12-month high of $116.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The stock has a market capitalization of $12.60 billion, a PE ratio of 62.70, a price-to-earnings-growth ratio of 6.45 and a beta of 1.27. The firm has a 50 day simple moving average of $103.02 and a 200-day simple moving average of $93.81.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly 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 return on equity of 11.54% and a net margin of 26.64%. The firm had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. During the same period last year, the company posted $0.18 EPS. As a group, equities research analysts expect that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on MMYT. Bank of America boosted their price objective on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

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.