Geode Capital Management LLC Acquires 19,471 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Geode Capital Management LLC raised its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,230 shares of the technology company’s stock after acquiring an additional 19,471 shares during the quarter. Geode Capital Management LLC owned about 0.25% of MakeMyTrip worth $25,397,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in MakeMyTrip by 51.2% in the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock worth $337,917,000 after purchasing an additional 1,230,916 shares in the last quarter. Jennison Associates LLC boosted its position in shares of MakeMyTrip by 282.4% during the 3rd quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after acquiring an additional 1,710,773 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of MakeMyTrip by 54.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after purchasing an additional 387,695 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of MakeMyTrip by 129.2% during the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after buying an additional 539,067 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after acquiring an additional 107,814 shares during the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America increased their price target on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Price Performance

MMYT stock opened at $114.53 on Friday. 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 firm has a market cap of $12.57 billion, a price-to-earnings ratio of 62.58, a PEG ratio of 6.59 and a beta of 1.27. The company’s fifty day simple moving average is $109.60 and its 200 day simple moving average is $98.70. MakeMyTrip Limited has a 12-month low of $43.31 and a 12-month high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The company had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the prior year, the company earned $0.18 EPS. On average, analysts expect that MakeMyTrip Limited will post 1.29 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.