Ninety One UK Ltd Buys 40,375 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Ninety One UK Ltd boosted its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 741.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,823 shares of the technology company’s stock after purchasing an additional 40,375 shares during the quarter. Ninety One UK Ltd’s holdings in MakeMyTrip were worth $5,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rheos Capital Works Inc. grew its stake in 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 acquiring an additional 95,000 shares during the period. Swedbank AB acquired a new position in MakeMyTrip in the fourth quarter valued at about $3,930,000. BOCHK Asset Management Ltd grew its stake in MakeMyTrip by 266.7% in the fourth quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock valued at $124,000 after acquiring an additional 800 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in MakeMyTrip by 1.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,616 shares of the technology company’s stock valued at $3,887,000 after acquiring an additional 400 shares during the period. Finally, R Squared Ltd acquired a new position in MakeMyTrip in the fourth quarter valued at about $99,000. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Stock Up 1.6 %

MMYT stock opened at $119.85 on Thursday. The business has a 50-day moving average of $112.39 and a 200-day moving average of $103.69. MakeMyTrip Limited has a fifty-two week low of $54.94 and a fifty-two week high of $123.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The stock has a market capitalization of $13.16 billion, a P/E ratio of 65.14, a P/E/G ratio of 7.05 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly 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%. On average, sell-side analysts anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Bank of America upped their price objective on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, December 27th.

MakeMyTrip Company 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.