MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,453 shares of the technology company's stock after selling 15,040 shares during the quarter. Fred Alger Management LLC owned approximately 0.10% of MakeMyTrip worth $9,541,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company's stock worth $35,000 after purchasing an additional 332 shares in the last quarter. Fifth Third Bancorp purchased a new stake in MakeMyTrip in the second quarter valued at $59,000. nVerses Capital LLC acquired a new position in MakeMyTrip in the second quarter valued at $143,000. LRI Investments LLC purchased a new position in shares of MakeMyTrip during the first quarter worth about $149,000. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of MakeMyTrip during the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Performance

MakeMyTrip stock traded down $12.33 during trading hours on Thursday, reaching $94.51. 2,017,949 shares of the stock were exchanged, compared to its average volume of 732,334. MakeMyTrip Limited has a 52-week low of $36.81 and a 52-week high of $110.49. The stock has a market cap of $10.38 billion, a P/E ratio of 59.01, a P/E/G ratio of 5.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78. The firm's 50 day moving average is $95.97 and its 200 day moving average is $82.57.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last released its earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The company had revenue of $254.52 million during the quarter, compared to analysts' expectations of $231.85 million. Analysts predict that MakeMyTrip Limited will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America lifted their target price on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a "buy" rating in a report on Tuesday, August 27th. Citigroup raised their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock 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 note on Wednesday, July 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.