538,521 Shares in MakeMyTrip Limited (NASDAQ:MMYT) Acquired by GQG Partners LLC

GQG Partners LLC bought a new stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 538,521 shares of the technology company's stock, valued at approximately $60,465,000. GQG Partners LLC owned about 0.49% of MakeMyTrip at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MMYT. Rheos Capital Works Inc. raised its stake in shares of MakeMyTrip by 237.5% in the 4th quarter. Rheos Capital Works Inc. now owns 135,000 shares of the technology company's stock valued at $15,158,000 after acquiring an additional 95,000 shares during the period. Natixis Advisors LLC purchased a new position in MakeMyTrip in the 3rd quarter worth approximately $1,219,000. Citigroup Inc. increased its stake in MakeMyTrip by 154.3% during the 3rd quarter. Citigroup Inc. now owns 60,123 shares of the technology company's stock worth $5,588,000 after buying an additional 36,476 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in MakeMyTrip in the third quarter valued at about $1,134,000. Finally, New York State Common Retirement Fund increased its stake in shares of MakeMyTrip by 100.2% in the fourth quarter. New York State Common Retirement Fund now owns 101,279 shares of the technology company's stock worth $11,372,000 after buying an additional 50,689 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

Wall Street Analyst Weigh In

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

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT traded down $2.41 during trading on Friday, hitting $103.51. 544,621 shares of the company traded hands, compared to its average volume of 716,776. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19. The business's fifty day moving average is $102.00 and its 200-day moving average is $105.28. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 56.26, a PEG ratio of 6.56 and a beta of 1.36. MakeMyTrip Limited has a one year low of $60.55 and a one year high of $123.00.

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%. As a group, equities analysts predict that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

MakeMyTrip Company 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.