MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 32.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,755 shares of the technology company’s stock after selling 22,362 shares during the period. HighTower Advisors LLC’s holdings in MakeMyTrip were worth $4,255,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MMYT. Natixis Advisors LLC purchased a new position in MakeMyTrip in the third quarter valued at approximately $1,219,000. Citigroup Inc. grew its stake in shares of MakeMyTrip by 154.3% in the third quarter. Citigroup Inc. now owns 60,123 shares of the technology company’s stock valued at $5,588,000 after buying an additional 36,476 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of MakeMyTrip during the 3rd quarter valued at about $674,000. Vanguard Group Inc. acquired a new position in MakeMyTrip during the 1st quarter worth approximately $2,317,000. Finally, 1832 Asset Management L.P. purchased a new position in MakeMyTrip in the 2nd quarter worth approximately $879,000. 51.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MMYT has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Stock Performance

Shares of MMYT opened at $119.93 on Thursday. The firm has a market cap of $13.17 billion, a price-to-earnings ratio of 65.54, a PEG ratio of 6.77 and a beta of 1.27. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $106.03 and its two-hundred day moving average is $95.75. MakeMyTrip Limited has a 52-week low of $43.31 and a 52-week high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.10. The firm had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the prior year, the company posted $0.18 earnings per share. Analysts forecast that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

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.