Channing Global Advisors LLC Sells 16,639 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Channing Global Advisors LLC cut its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 48.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,688 shares of the technology company's stock after selling 16,639 shares during the period. MakeMyTrip accounts for 1.4% of Channing Global Advisors LLC's holdings, making the stock its 21st biggest holding. Channing Global Advisors LLC's holdings in MakeMyTrip were worth $1,644,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Park Place Capital Corp bought a new position in shares of MakeMyTrip during the third quarter worth $25,000. Advisors Asset Management Inc. increased its position in shares of MakeMyTrip by 100.9% during the 3rd 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. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 332 shares during the period. Fifth Third Bancorp bought a new stake in MakeMyTrip in the second quarter worth $59,000. Finally, nVerses Capital LLC purchased a new position in MakeMyTrip during the second quarter worth $143,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

MakeMyTrip Trading Up 0.6 %

MakeMyTrip stock traded up $0.63 during trading hours on Friday, hitting $114.74. The company had a trading volume of 403,348 shares, compared to its average volume of 718,153. The firm has a market cap of $12.60 billion, a P/E ratio of 62.70, a P/E/G ratio of 6.41 and a beta of 1.27. The company has a 50-day moving average price of $103.02 and a two-hundred day moving average price of $93.81. MakeMyTrip Limited has a 1 year low of $41.56 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to analysts' expectations of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts anticipate that MakeMyTrip Limited will post 1.29 earnings per share 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.