E Fund Management Co. Ltd. Acquires New Stake in MakeMyTrip Limited (NASDAQ:MMYT)

E Fund Management Co. Ltd. acquired a new position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,146 shares of the technology company's stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jennison Associates LLC increased its position in shares of MakeMyTrip by 282.4% during the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company's stock valued at $215,325,000 after acquiring an additional 1,710,773 shares in the last quarter. FMR LLC grew its stake in shares of MakeMyTrip by 51.2% during the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company's stock valued at $337,917,000 after acquiring an additional 1,230,916 shares during the period. Wasatch Advisors LP bought a new position in MakeMyTrip in the 3rd quarter worth $44,521,000. Bank of New York Mellon Corp boosted its stake in shares of MakeMyTrip by 939.1% in the fourth quarter. Bank of New York Mellon Corp now owns 329,173 shares of the technology company's stock worth $36,959,000 after acquiring an additional 297,493 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company's stock worth $58,750,000 after purchasing an additional 107,814 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

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MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded up $3.35 during trading hours on Wednesday, reaching $93.01. The company's stock had a trading volume of 1,440,470 shares, compared to its average volume of 716,264. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. MakeMyTrip Limited has a one year low of $60.55 and a one year high of $123.00. The firm has a 50 day moving average price of $104.49 and a 200-day moving average price of $104.87. The stock has a market cap of $10.21 billion, a P/E ratio of 50.55, a P/E/G ratio of 6.56 and a beta of 1.36.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its earnings results on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. On average, analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MMYT shares. Bank of America lifted their price objective on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, December 27th. StockNews.com downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Friday, January 24th.

MakeMyTrip 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.