Wellington Management Group LLP Reduces Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Wellington Management Group LLP cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 37.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 716,644 shares of the technology company's stock after selling 432,416 shares during the quarter. Wellington Management Group LLP owned about 0.65% of MakeMyTrip worth $80,465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMYT. BNP Paribas Financial Markets raised its stake in shares of MakeMyTrip by 48.0% in 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 period. Janus Henderson Group PLC increased its position in shares of MakeMyTrip by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company's stock valued at $47,258,000 after purchasing an additional 6,378 shares during the last quarter. State Street Corp increased its position in shares of MakeMyTrip by 5.8% in the 3rd quarter. State Street Corp now owns 106,537 shares of the technology company's stock valued at $9,903,000 after purchasing an additional 5,814 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of MakeMyTrip in the 3rd quarter valued at $818,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of MakeMyTrip in the 3rd quarter valued at $858,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MMYT. Bank of America increased their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, December 27th. StockNews.com cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Friday, January 24th.

MakeMyTrip Price Performance

NASDAQ:MMYT traded down $3.61 during mid-day trading on Thursday, hitting $94.40. 212,771 shares of the company's stock traded hands, compared to its average volume of 717,800. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88. The firm's 50 day simple moving average is $99.53 and its 200 day simple moving average is $104.56. MakeMyTrip Limited has a 1 year low of $60.55 and a 1 year high of $123.00. The company has a market cap of $10.36 billion, a PE ratio of 51.60, a price-to-earnings-growth ratio of 6.56 and a beta of 1.00.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that MakeMyTrip Limited will post 1.27 EPS for the current year.

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.