MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 32.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,755 shares of the technology company's stock after selling 22,362 shares during the period. HighTower Advisors LLC's holdings in MakeMyTrip were worth $4,255,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MMYT. Wasatch Advisors LP acquired a new position in MakeMyTrip in the third quarter valued at $44,521,000. MayTech Global Investments LLC grew its holdings in MakeMyTrip by 13.5% in the 3rd quarter. MayTech Global Investments LLC now owns 278,442 shares of the technology company's stock valued at $25,881,000 after buying an additional 33,118 shares during the period. BNP Paribas Financial Markets increased its stake in shares of MakeMyTrip by 48.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,783 shares of the technology company's stock valued at $259,000 after acquiring an additional 903 shares during the last quarter. FMR LLC lifted its holdings in shares of MakeMyTrip by 51.2% during the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company's stock worth $337,917,000 after acquiring an additional 1,230,916 shares during the period. Finally, 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 worth $58,750,000 after acquiring an additional 107,814 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

MakeMyTrip Trading Down 2.0 %

NASDAQ MMYT traded down $2.43 during mid-day trading on Thursday, hitting $117.50. The company's stock had a trading volume of 319,552 shares, compared to its average volume of 711,605. The firm has a market capitalization of $12.90 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 6.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. MakeMyTrip Limited has a 52-week low of $43.31 and a 52-week high of $123.00. The stock's fifty day simple moving average is $106.57 and its two-hundred day simple moving average is $95.90.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on MMYT shares. Bank of America upped their price target on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. StockNews.com downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th.

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.