Baillie Gifford & Co. Trims Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Baillie Gifford & Co. reduced its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,949,281 shares of the technology company's stock after selling 123,171 shares during the period. Baillie Gifford & Co. owned 3.60% of MakeMyTrip worth $367,086,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Park Place Capital Corp purchased a new stake in MakeMyTrip during the third quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company's stock valued at $35,000 after acquiring an additional 332 shares in the last quarter. Fifth Third Bancorp purchased a new position in MakeMyTrip during the second quarter valued at approximately $59,000. nVerses Capital LLC purchased a new position in MakeMyTrip during the second quarter valued at approximately $143,000. Finally, LRI Investments LLC purchased a new position in MakeMyTrip during the first quarter valued at approximately $149,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Trading Down 3.7 %

Shares of MMYT traded down $3.92 during mid-day trading on Tuesday, reaching $103.00. The company's stock had a trading volume of 225,728 shares, compared to its average volume of 727,130. The stock has a market cap of $11.31 billion, a PE ratio of 58.43, a P/E/G ratio of 6.00 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 Limited has a 52 week low of $41.11 and a 52 week high of $113.61. The company's fifty day moving average price is $100.74 and its two-hundred day moving average price is $90.44.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 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 analyst estimates of $214.90 million. During the same period in the prior year, the business posted $0.18 EPS. On average, analysts predict that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MMYT. StockNews.com upgraded shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Tuesday. Citigroup lifted their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the company a "buy" rating in a research report on Thursday, October 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.