Manning & Napier Advisors LLC lowered its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 30.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,595 shares of the technology company’s stock after selling 13,140 shares during the quarter. Manning & Napier Advisors LLC’s holdings in MakeMyTrip were worth $879,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MMYT. Capital World Investors raised its position in shares of MakeMyTrip by 20.9% during the 2nd quarter. Capital World Investors now owns 5,679,214 shares of the technology company’s stock worth $190,201,000 after purchasing an additional 981,229 shares during the period. Baillie Gifford & Co. raised its position in shares of MakeMyTrip by 6.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,537,697 shares of the technology company’s stock worth $72,959,000 after purchasing an additional 158,729 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $80,153,000. Franklin Resources Inc. raised its position in shares of MakeMyTrip by 110.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,930,468 shares of the technology company’s stock worth $64,753,000 after purchasing an additional 1,014,468 shares during the period. Finally, JHL Capital Group LLC increased its position in MakeMyTrip by 32.5% in the 2nd quarter. JHL Capital Group LLC now owns 1,656,000 shares of the technology company’s stock valued at $55,559,000 after acquiring an additional 406,000 shares during the period. Hedge funds and other institutional investors own 44.88% of the company’s stock.
Shares of MakeMyTrip Limited (NASDAQ MMYT) remained flat at $$28.85 during trading on Thursday. The company’s stock had a trading volume of 132,644 shares, compared to its average volume of 503,072. MakeMyTrip Limited has a twelve month low of $22.05 and a twelve month high of $40.90.
MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.27. MakeMyTrip had a negative return on equity of 12.74% and a negative net margin of 31.73%. The business had revenue of $139.20 million during the quarter, compared to analyst estimates of $110.72 million. During the same period last year, the company earned ($0.61) earnings per share. MakeMyTrip’s quarterly revenue was up 161.7% compared to the same quarter last year. equities research analysts predict that MakeMyTrip Limited will post -2.22 earnings per share for the current fiscal year.
Several analysts recently commented on MMYT shares. ValuEngine cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Jefferies Group reaffirmed a “hold” rating and set a $31.50 price target on shares of MakeMyTrip in a research note on Friday, October 13th. Goldman Sachs Group began coverage on MakeMyTrip in a research note on Thursday, November 30th. They set a “buy” rating and a $36.00 price target for the company. Zacks Investment Research lowered MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, UBS lowered MakeMyTrip from a “buy” rating to a “sell” rating and set a $30.00 price target for the company. in a research note on Wednesday, September 20th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. MakeMyTrip has an average rating of “Hold” and an average price target of $31.28.
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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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