Norges Bank Purchases New Shares in MakeMyTrip Limited (NASDAQ:MMYT)

Norges Bank purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 871,328 shares of the technology company's stock, valued at approximately $97,833,000. Norges Bank owned about 0.79% of MakeMyTrip as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Rheos Capital Works Inc. increased its stake in shares of MakeMyTrip by 237.5% in the fourth quarter. Rheos Capital Works Inc. now owns 135,000 shares of the technology company's stock valued at $15,158,000 after purchasing an additional 95,000 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in MakeMyTrip in the 3rd quarter worth approximately $1,134,000. New York State Common Retirement Fund increased its position in MakeMyTrip by 100.2% in the 4th quarter. New York State Common Retirement Fund now owns 101,279 shares of the technology company's stock valued at $11,372,000 after acquiring an additional 50,689 shares during the period. Geode Capital Management LLC raised its stake in MakeMyTrip by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company's stock valued at $25,397,000 after acquiring an additional 19,471 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in MakeMyTrip by 9.2% during the 4th quarter. Handelsbanken Fonder AB now owns 44,924 shares of the technology company's stock valued at $5,044,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

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MakeMyTrip Price Performance

NASDAQ:MMYT traded down $8.95 during midday trading on Friday, hitting $87.12. 1,344,095 shares of the stock were exchanged, compared to its average volume of 719,294. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 47.35, a P/E/G ratio of 6.56 and a beta of 1.00. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a one year low of $60.55 and a one year high of $123.00. The business has a 50-day moving average price of $101.07 and a two-hundred day moving average price of $105.07.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. Sell-side analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America raised their price target on MakeMyTrip from $119.00 to $130.00 and gave the company a "buy" rating in a report on Friday, December 27th. StockNews.com lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Friday, January 24th.

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.