Handelsbanken Fonder AB Raises Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Handelsbanken Fonder AB lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 44,924 shares of the technology company's stock after acquiring an additional 3,800 shares during the quarter. Handelsbanken Fonder AB's holdings in MakeMyTrip were worth $5,044,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in MakeMyTrip by 282.4% during the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company's stock worth $215,325,000 after purchasing an additional 1,710,773 shares during the period. FMR LLC grew its holdings in shares of MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company's stock valued at $337,917,000 after purchasing an additional 1,230,916 shares in the last quarter. Wasatch Advisors LP purchased a new stake in MakeMyTrip during the 3rd quarter worth approximately $44,521,000. The Manufacturers Life Insurance Company boosted its position in MakeMyTrip by 20.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company's stock valued at $58,750,000 after buying an additional 107,814 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in shares of MakeMyTrip in the third quarter worth $9,388,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

Wall Street Analyst Weigh In

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

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MakeMyTrip Stock Down 0.3 %

Shares of NASDAQ:MMYT traded down $0.26 during trading hours on Thursday, reaching $93.07. The stock had a trading volume of 692,179 shares, compared to its average volume of 836,349. MakeMyTrip Limited has a 1 year low of $56.90 and a 1 year high of $123.00. The firm's 50 day moving average is $108.64 and its 200-day moving average is $105.15. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 6.56 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. Research 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.