Coronation Fund Managers Ltd. Sells 409,571 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Coronation Fund Managers Ltd. reduced its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 99.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,493 shares of the technology company’s stock after selling 409,571 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in MakeMyTrip were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MMYT. FIL Ltd raised its position in MakeMyTrip by 1.2% during 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 in the last quarter. Artisan Partners Limited Partnership raised its position in MakeMyTrip by 64.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after purchasing an additional 1,357,884 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of MakeMyTrip by 39.2% during the fourth quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after buying an additional 734,336 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of MakeMyTrip during the first quarter worth $50,543,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of MakeMyTrip by 49.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 698,156 shares of the technology company’s stock worth $32,799,000 after buying an additional 230,995 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MMYT. Citigroup upped their price target on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Bank of America upped their price target on shares of MakeMyTrip from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.67.

MakeMyTrip Stock Down 2.0 %

Shares of MMYT stock traded down $1.93 on Friday, reaching $94.63. 582,897 shares of the company were exchanged, compared to its average volume of 761,411. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 56.66, a PEG ratio of 6.76 and a beta of 1.30. The company has a 50-day moving average of $87.28 and a 200-day moving average of $74.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. MakeMyTrip Limited has a one year low of $35.54 and a one year high of $100.22.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The company had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. Analysts anticipate that MakeMyTrip Limited will post 0.98 earnings per share for the current year.

About MakeMyTrip

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.