American Century Companies Inc. Sells 566,412 Shares of MakeMyTrip Limited $MMYT

American Century Companies Inc. decreased its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 39.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 880,868 shares of the technology company’s stock after selling 566,412 shares during the period. American Century Companies Inc. owned 0.79% of MakeMyTrip worth $82,449,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. bought a new position in MakeMyTrip in the 2nd quarter worth approximately $43,000. Jones Financial Companies Lllp lifted its position in shares of MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock worth $86,000 after acquiring an additional 884 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of MakeMyTrip by 10.2% in the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after acquiring an additional 188 shares during the period. Genus Capital Management Inc. purchased a new position in shares of MakeMyTrip in the second quarter valued at $207,000. Finally, Paradice Investment Management LLC purchased a new position in shares of MakeMyTrip in the third quarter valued at $201,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MMYT. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Bank of America lowered their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Citigroup decreased their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.33.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $50.91 on Wednesday. MakeMyTrip Limited has a fifty-two week low of $50.47 and a fifty-two week high of $113.85. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $5.66 billion, a P/E ratio of 106.06, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64. The firm’s fifty day moving average price is $67.34 and its 200-day moving average price is $80.57.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The business had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. On average, equities research analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.