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HighTower Advisors LLC Purchases 26,431 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

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HighTower Advisors LLC grew its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 57.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,186 shares of the technology company's stock after purchasing an additional 26,431 shares during the period. HighTower Advisors LLC owned about 0.07% of MakeMyTrip worth $8,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised 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 during the last quarter. Jennison Associates LLC boosted its position in shares of MakeMyTrip by 282.4% in 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 during the period. The Manufacturers Life Insurance Company boosted its position in shares of MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company's stock valued at $58,750,000 after acquiring an additional 107,814 shares during the period. Janus Henderson Group PLC boosted its position in shares of MakeMyTrip by 1.3% in the third quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company's stock valued at $47,258,000 after acquiring an additional 6,378 shares during the period. Finally, Wasatch Advisors LP bought a new stake in shares of MakeMyTrip in the third quarter valued at about $44,521,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on MakeMyTrip

MakeMyTrip Trading Up 3.4 %

MMYT stock traded up $3.21 during trading on Wednesday, hitting $98.97. The company had a trading volume of 260,261 shares, compared to its average volume of 711,008. The business has a 50-day moving average of $102.38 and a 200-day moving average of $104.77. MakeMyTrip Limited has a one year low of $60.55 and a one year high of $123.00. The stock has a market cap of $10.87 billion, a PE ratio of 53.79, a PEG ratio of 6.56 and a beta of 1.36. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

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 the consensus estimate 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

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MakeMyTrip (NASDAQ:MMYT)

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