Massachusetts Financial Services Co. MA Lowers Position in MakeMyTrip Limited (NASDAQ:MMYT)

Massachusetts Financial Services Co. MA decreased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 26.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 615,122 shares of the technology company’s stock after selling 219,377 shares during the period. Massachusetts Financial Services Co. MA’s holdings in MakeMyTrip were worth $57,176,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MMYT. Park Place Capital Corp bought a new stake in MakeMyTrip in the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after acquiring an additional 332 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of MakeMyTrip by 100.9% during the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after acquiring an additional 225 shares during the last quarter. Fifth Third Bancorp bought a new stake in MakeMyTrip during the second quarter worth $59,000. Finally, nVerses Capital LLC purchased a new position in MakeMyTrip in the second quarter worth $143,000. Institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MMYT shares. Bank of America raised their target price on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $108.73 on Monday. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $102.25 and a two-hundred day simple moving average of $92.47. MakeMyTrip Limited has a 1-year low of $41.56 and a 1-year high of $113.61. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 59.42, a price-to-earnings-growth ratio of 6.16 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The company had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. During the same quarter in the prior year, the company earned $0.18 EPS. Analysts anticipate that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

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.