Jennison Associates LLC Acquires 1,710,773 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Jennison Associates LLC lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 282.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,316,572 shares of the technology company's stock after purchasing an additional 1,710,773 shares during the quarter. Jennison Associates LLC owned 2.11% of MakeMyTrip worth $215,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MMYT. Harbour Capital Advisors LLC raised its stake in MakeMyTrip by 0.9% during the 3rd quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company's stock valued at $2,008,000 after purchasing an additional 175 shares during the period. Thornburg Investment Management Inc. lifted its stake in MakeMyTrip by 0.8% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company's stock worth $2,100,000 after acquiring an additional 204 shares in the last quarter. Caprock Group LLC lifted its position in shares of MakeMyTrip by 6.4% in the third quarter. Caprock Group LLC now owns 3,726 shares of the technology company's stock worth $346,000 after purchasing an additional 224 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in MakeMyTrip by 44.1% during the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company's stock valued at $65,000 after purchasing an additional 236 shares in the last quarter. Finally, Park Place Capital Corp purchased a new stake in MakeMyTrip in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded up $4.49 during midday trading on Wednesday, reaching $107.49. The company had a trading volume of 456,786 shares, compared to its average volume of 725,591. The stock has a fifty day simple moving average of $101.81 and a 200 day simple moving average of $91.85. MakeMyTrip Limited has a 1-year low of $41.56 and a 1-year high of $113.61. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 5.48 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analysts' expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, equities research analysts forecast that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

MMYT has been the topic of several recent research reports. StockNews.com lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Wednesday. Citigroup increased their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, Bank of America upped their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a "buy" rating in a report on Thursday, October 24th.

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.