MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,453 shares of the technology company’s stock after selling 15,040 shares during the quarter. Fred Alger Management LLC owned 0.10% of MakeMyTrip worth $9,541,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of MakeMyTrip by 29.8% in the fourth quarter. Fisher Asset Management LLC now owns 94,606 shares of the technology company’s stock valued at $4,445,000 after buying an additional 21,733 shares in the last quarter. Axiom Investors LLC DE increased its holdings in MakeMyTrip by 34.1% during the 4th quarter. Axiom Investors LLC DE now owns 340,048 shares of the technology company’s stock valued at $15,975,000 after acquiring an additional 86,558 shares in the last quarter. Entropy Technologies LP acquired a new position in MakeMyTrip during the first quarter worth about $472,000. Tidal Investments LLC purchased a new stake in shares of MakeMyTrip in the first quarter valued at about $3,891,000. Finally, FIL Ltd grew its position in shares of MakeMyTrip by 1.2% in the fourth quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after purchasing an additional 74,951 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $106.84 on Thursday. The stock has a fifty day moving average price of $95.97 and a 200 day moving average price of $82.57. MakeMyTrip Limited has a 52 week low of $36.81 and a 52 week high of $110.49. The firm has a market capitalization of $11.73 billion, a P/E ratio of 63.98, a PEG 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.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The company had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. Equities research analysts anticipate that MakeMyTrip Limited will post 1.38 earnings per share for the current year.

Analysts Set New Price Targets

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

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.