Geode Capital Management LLC Sells 213,613 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Geode Capital Management LLC lessened its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 78.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 59,617 shares of the technology company's stock after selling 213,613 shares during the period. Geode Capital Management LLC owned approximately 0.05% of MakeMyTrip worth $6,694,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in MakeMyTrip in the 4th quarter valued at $35,000. Steward Partners Investment Advisory LLC lifted its stake in shares of MakeMyTrip by 41.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company's stock valued at $43,000 after buying an additional 111 shares in the last quarter. Signaturefd LLC bought a new position in shares of MakeMyTrip in the fourth quarter valued at $74,000. R Squared Ltd acquired a new position in shares of MakeMyTrip during the fourth quarter valued at about $99,000. Finally, BOCHK Asset Management Ltd increased its position in shares of MakeMyTrip by 266.7% during the fourth quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company's stock worth $124,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Up 2.8 %

MMYT opened at $106.00 on Friday. MakeMyTrip Limited has a fifty-two week low of $64.30 and a fifty-two week high of $123.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The company's 50-day moving average is $97.44 and its 200 day moving average is $104.91. The firm has a market capitalization of $11.64 billion, a P/E ratio of 57.61, a PEG ratio of 6.56 and a beta of 1.00.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MMYT. Bank of America raised their price target 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 cut MakeMyTrip from a "hold" rating to a "sell" rating in a research report 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.

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