Jennison Associates LLC Cuts Position in MakeMyTrip Limited (NASDAQ:MMYT)

Jennison Associates LLC trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 898,514 shares of the technology company’s stock after selling 113,093 shares during the period. Jennison Associates LLC’s holdings in MakeMyTrip were worth $42,212,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MMYT. Handelsbanken Fonder AB purchased a new stake in shares of MakeMyTrip in the 4th quarter valued at about $705,000. Calamos Wealth Management LLC boosted its position in shares of MakeMyTrip by 51.3% in the 4th quarter. Calamos Wealth Management LLC now owns 44,885 shares of the technology company’s stock valued at $2,109,000 after purchasing an additional 15,217 shares during the period. Federated Hermes Inc. acquired a new stake in shares of MakeMyTrip in the 4th quarter valued at about $636,000. Helios Capital Management PTE. Ltd. acquired a new stake in shares of MakeMyTrip in the 4th quarter valued at about $1,644,000. Finally, Baillie Gifford & Co. boosted its position in shares of MakeMyTrip by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 2,284,324 shares of the technology company’s stock valued at $107,318,000 after purchasing an additional 10,099 shares during the period. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Macquarie cut MakeMyTrip from an “outperform” rating to a “neutral” rating and upped their target price for the company from $50.00 to $60.00 in a research report on Wednesday, February 21st.

MakeMyTrip Stock Up 5.0 %

MakeMyTrip stock opened at $65.20 on Wednesday. MakeMyTrip Limited has a twelve month low of $22.50 and a twelve month high of $77.30. The stock has a 50 day moving average of $64.37 and a two-hundred day moving average of $52.05. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 141.74 and a beta of 1.23.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. MakeMyTrip had a return on equity of 10.13% and a net margin of 6.93%. The company had revenue of $214.22 million during the quarter, compared to analysts’ expectations of $210.01 million. As a group, research analysts expect that MakeMyTrip Limited will post 0.84 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.