Penserra Capital Management LLC Sells 33,874 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Penserra Capital Management LLC lowered its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 33.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,907 shares of the technology company's stock after selling 33,874 shares during the quarter. Penserra Capital Management LLC owned about 0.06% of MakeMyTrip worth $6,217,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Park Place Capital Corp bought a new position in MakeMyTrip during the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company's stock valued at $35,000 after buying an additional 332 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company's stock valued at $42,000 after acquiring an additional 225 shares in the last quarter. Fifth Third Bancorp acquired a new position in MakeMyTrip during the second quarter worth approximately $59,000. Finally, nVerses Capital LLC acquired a new stake in MakeMyTrip in the second quarter valued at about $143,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Price Performance

NASDAQ:MMYT traded up $1.17 on Monday, reaching $109.90. The stock had a trading volume of 336,620 shares, compared to its average volume of 721,212. The stock has a fifty day moving average price of $102.25 and a 200-day moving average price of $92.61. The company has a market capitalization of $12.06 billion, a P/E ratio of 59.42, a price-to-earnings-growth ratio of 6.11 and a beta of 1.27. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 1-year low of $41.56 and a 1-year high of $113.61.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share 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 firm had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Research analysts forecast that MakeMyTrip Limited will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com lowered MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Bank of America increased their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the company a "buy" rating in a report on Thursday, October 24th.

MakeMyTrip 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.