Virtu Financial LLC Reduces Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Virtu Financial LLC lessened its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 47.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,045 shares of the technology company's stock after selling 5,548 shares during the quarter. Virtu Financial LLC's holdings in MakeMyTrip were worth $679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of MakeMyTrip in the fourth quarter valued at approximately $35,000. Advisors Asset Management Inc. boosted its holdings in MakeMyTrip by 100.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company's stock valued at $42,000 after purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of MakeMyTrip by 41.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company's stock valued at $43,000 after purchasing an additional 111 shares in the last quarter. Signaturefd LLC bought a new position in shares of MakeMyTrip in the fourth quarter worth $74,000. Finally, R Squared Ltd purchased a new stake in shares of MakeMyTrip in the fourth quarter worth $99,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Price Performance

NASDAQ:MMYT traded up $1.05 during mid-day trading on Tuesday, reaching $108.07. The stock had a trading volume of 580,778 shares, compared to its average volume of 710,254. The stock has a market capitalization of $11.86 billion, a P/E ratio of 58.73, a P/E/G ratio of 6.56 and a beta of 1.36. MakeMyTrip Limited has a one year low of $60.55 and a one year high of $123.00. The firm has a 50 day moving average price of $101.92 and a two-hundred day moving average price of $105.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

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MakeMyTrip (NASDAQ:MMYT - Get Free Report) last released its earnings results on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. As a group, analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MMYT shares. Bank of America upped their target price on MakeMyTrip from $119.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, December 27th. StockNews.com downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Friday, January 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.