Aubrey Capital Management Ltd Lowers Position in MakeMyTrip Limited (NASDAQ:MMYT)

Aubrey Capital Management Ltd reduced its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,520 shares of the technology company's stock after selling 39,180 shares during the period. MakeMyTrip accounts for 9.4% of Aubrey Capital Management Ltd's portfolio, making the stock its 2nd largest position. Aubrey Capital Management Ltd owned approximately 0.24% of MakeMyTrip worth $24,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Harbour Capital Advisors LLC grew its stake in shares of MakeMyTrip by 0.9% in the 3rd quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company's stock worth $2,008,000 after buying an additional 175 shares during the last quarter. Thornburg Investment Management Inc. grew its position in MakeMyTrip by 0.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company's stock valued at $2,100,000 after purchasing an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in MakeMyTrip by 44.1% during the 2nd 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. Park Place Capital Corp purchased a new position in MakeMyTrip in the third quarter worth about $25,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of MakeMyTrip by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company's stock worth $2,583,000 after buying an additional 324 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MMYT. Bank of America boosted 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. Citigroup upped their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Finally, StockNews.com raised MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Tuesday.

MakeMyTrip Stock Performance

Shares of MMYT stock traded down $1.32 during mid-day trading on Thursday, reaching $103.03. 281,995 shares of the company's stock traded hands, compared to its average volume of 725,137. The firm has a 50 day moving average price of $101.24 and a two-hundred day moving average price of $90.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. MakeMyTrip Limited has a 12 month low of $41.56 and a 12 month high of $113.61. The firm has a market capitalization of $11.31 billion, a PE ratio of 57.46, a price-to-earnings-growth ratio of 5.86 and a beta of 1.27.

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

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.