Handelsbanken Fonder AB Sells 10,227 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Handelsbanken Fonder AB decreased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 19.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,124 shares of the technology company’s stock after selling 10,227 shares during the quarter. Handelsbanken Fonder AB’s holdings in MakeMyTrip were worth $3,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMYT. Driehaus Capital Management LLC grew its holdings in shares of MakeMyTrip by 51.2% during the second quarter. Driehaus Capital Management LLC now owns 26,466 shares of the technology company’s stock worth $2,226,000 after purchasing an additional 8,957 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in MakeMyTrip in the 2nd quarter valued at approximately $362,000. Marshall Wace LLP increased its position in MakeMyTrip by 129.2% in the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after acquiring an additional 539,067 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of MakeMyTrip by 44.1% during the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock valued at $65,000 after acquiring an additional 236 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of MakeMyTrip during the second quarter worth $879,000. Institutional investors own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Bank of America raised their target price on MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Citigroup increased their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th.

MakeMyTrip Stock Performance

MMYT stock opened at $98.47 on Wednesday. The firm has a market cap of $10.81 billion, a PE ratio of 58.96, a price-to-earnings-growth ratio of 5.88 and a beta of 1.28. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $96.39 and a 200-day moving average price of $84.49. MakeMyTrip Limited has a 1-year low of $36.81 and a 1-year high of $110.49.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. The business had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. As a group, equities research analysts expect that MakeMyTrip Limited will post 1.38 earnings per share for the current 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.