Manning & Napier Advisors LLC cut its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,595 shares of the technology company’s stock after selling 13,140 shares during the period. Manning & Napier Advisors LLC’s holdings in MakeMyTrip Limited were worth $879,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in 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 acquiring an additional 399 shares in the last quarter. Credit Suisse AG acquired a new stake in MakeMyTrip Limited in the first quarter worth about $242,000. Airain ltd acquired a new stake in MakeMyTrip Limited in the second quarter worth about $256,000. California Public Employees Retirement System acquired a new stake in MakeMyTrip Limited in the second quarter worth about $262,000. Finally, Caxton Associates LP acquired a new stake in MakeMyTrip Limited in the second quarter worth about $278,000. 45.04% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of MakeMyTrip Limited (MMYT) opened at $27.75 on Wednesday. MakeMyTrip Limited has a 12-month low of $22.05 and a 12-month high of $40.90.
MakeMyTrip Limited (NASDAQ:MMYT) last issued its earnings results on Wednesday, November 1st. The technology company reported ($0.45) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.27. MakeMyTrip Limited had a negative return on equity of 12.74% and a negative net margin of 31.73%. The firm had revenue of $139.20 million for the quarter, compared to analysts’ expectations of $110.72 million. During the same quarter last year, the business earned ($0.61) earnings per share. The company’s revenue was up 161.7% compared to the same quarter last year. analysts predict that MakeMyTrip Limited will post -2.22 EPS for the current fiscal year.
A number of analysts have commented on the stock. TheStreet raised shares of MakeMyTrip Limited from a “d” rating to a “c-” rating in a research note on Tuesday, July 25th. UBS AG downgraded MakeMyTrip Limited from a “buy” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Wednesday, September 20th. Zacks Investment Research upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating and increased their price objective for the stock from $19.80 to $32.00 in a report on Thursday, August 10th. Finally, ValuEngine downgraded MakeMyTrip Limited from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. MakeMyTrip Limited presently has a consensus rating of “Hold” and a consensus target price of $30.10.
MakeMyTrip Limited Profile
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.
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