Fmr LLC Acquires 158,101 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Fmr LLC raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 4.3% during the fourth quarter, HoldingsChannel reports. The fund owned 3,793,574 shares of the technology company’s stock after purchasing an additional 158,101 shares during the quarter. Fmr LLC’s holdings in MakeMyTrip were worth $425,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Schroder Investment Management Group raised its holdings in MakeMyTrip by 3.6% during the 4th quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company’s stock valued at $462,470,000 after acquiring an additional 141,507 shares during the period. Franklin Resources Inc. increased its holdings in shares of MakeMyTrip by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 1,503,980 shares of the technology company’s stock worth $168,867,000 after purchasing an additional 13,157 shares during the period. American Century Companies Inc. increased its holdings in shares of MakeMyTrip by 17.4% in the fourth quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company’s stock worth $142,528,000 after purchasing an additional 188,234 shares during the period. William Blair Investment Management LLC increased its holdings in shares of MakeMyTrip by 3.9% in the fourth quarter. William Blair Investment Management LLC now owns 935,751 shares of the technology company’s stock worth $105,066,000 after purchasing an additional 34,919 shares during the period. Finally, Norges Bank bought a new position in shares of MakeMyTrip in the fourth quarter worth $97,833,000. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $98.01 on Thursday. The company has a 50-day simple moving average of $99.53 and a two-hundred day simple moving average of $104.56. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 12-month low of $60.55 and a 12-month high of $123.00. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 53.27, a PEG ratio of 6.56 and a beta of 1.00.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. On average, equities analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on MMYT. Bank of America increased their target price on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, December 27th. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th.

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.