Janney Montgomery Scott LLC Has $2.20 Million Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Janney Montgomery Scott LLC raised its position in MakeMyTrip Limited (NASDAQ:MMYT) by 739.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,585 shares of the technology company’s stock after purchasing an additional 17,251 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MakeMyTrip were worth $2,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMYT. Jennison Associates LLC raised its stake in shares of MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after acquiring an additional 1,710,773 shares during the last quarter. FMR LLC increased its holdings in MakeMyTrip by 51.2% during the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares in the last quarter. Wasatch Advisors LP bought a new position in MakeMyTrip in the 3rd quarter valued at $44,521,000. The Manufacturers Life Insurance Company boosted its stake in MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after purchasing an additional 107,814 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in shares of MakeMyTrip during the third quarter worth $9,388,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MMYT. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Bank of America boosted their target price 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.

MakeMyTrip Trading Down 2.0 %

Shares of MMYT opened at $109.27 on Friday. The stock’s fifty day simple moving average is $112.15 and its 200-day simple moving average is $103.13. The firm has a market capitalization of $12.00 billion, a PE ratio of 59.39, a price-to-earnings-growth ratio of 7.02 and a beta of 1.29. MakeMyTrip Limited has a 12-month low of $53.51 and a 12-month high of $123.00. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts predict that MakeMyTrip Limited will post 1.27 earnings per share 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.