Fmr LLC Sells 20,000 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

FMR LLC lessened its position in MakeMyTrip Limited (NASDAQ:MMYT) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,175,096 shares of the technology company’s stock after selling 20,000 shares during the quarter. FMR LLC owned about 1.16% of MakeMyTrip Limited worth $39,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMYT. D.A. Davidson & CO. increased its holdings in shares of MakeMyTrip Limited by 12.7% in the second quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock valued at $119,000 after purchasing an additional 399 shares during the last quarter. Sei Investments Co. increased its holdings in shares of MakeMyTrip Limited by 3.8% in the second quarter. Sei Investments Co. now owns 102,321 shares of the technology company’s stock valued at $3,433,000 after purchasing an additional 3,746 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of MakeMyTrip Limited by 8.7% in the second quarter. Jennison Associates LLC now owns 61,477 shares of the technology company’s stock valued at $2,063,000 after purchasing an additional 4,897 shares during the last quarter. River & Mercantile Asset Management LLP increased its holdings in shares of MakeMyTrip Limited by 6.8% in the second quarter. River & Mercantile Asset Management LLP now owns 81,850 shares of the technology company’s stock valued at $2,744,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of MakeMyTrip Limited by 37.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 19,300 shares of the technology company’s stock valued at $648,000 after purchasing an additional 5,300 shares during the last quarter. Institutional investors and hedge funds own 43.53% of the company’s stock.

MakeMyTrip Limited (MMYT) opened at 23.45 on Friday. The stock’s market capitalization is $2.28 billion. MakeMyTrip Limited has a 12-month low of $22.05 and a 12-month high of $40.90. The company has a 50-day moving average price of $29.02 and a 200-day moving average price of $32.42.

MakeMyTrip Limited (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.14). The company had revenue of $141.21 million during the quarter, compared to analysts’ expectations of $110.67 million. MakeMyTrip Limited had a negative return on equity of 16.91% and a negative net margin of 31.64%. MakeMyTrip Limited’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.73) earnings per share. On average, equities research analysts forecast that MakeMyTrip Limited will post ($2.14) earnings per share for the current year.

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Several research firms recently commented on MMYT. Jefferies Group LLC cut MakeMyTrip Limited from a “buy” rating to a “hold” rating and increased their price target for the company from $19.80 to $32.00 in a report on Thursday, August 10th. Zacks Investment Research cut MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. ValuEngine cut MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. TheStreet raised MakeMyTrip Limited from a “d” rating to a “c-” rating in a research note on Tuesday, July 25th. Finally, UBS AG cut MakeMyTrip Limited from a “buy” rating to a “sell” rating and set a $30.00 price objective for the company. in a research note on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $29.80.

About MakeMyTrip Limited

MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.

Institutional Ownership by Quarter for MakeMyTrip Limited (NASDAQ:MMYT)

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