Jennison Associates LLC Lowers Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Jennison Associates LLC reduced its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 14.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,985,376 shares of the technology company’s stock after selling 331,196 shares during the period. Jennison Associates LLC’s holdings in MakeMyTrip were worth $222,918,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MMYT. Park Place Capital Corp purchased a new position in MakeMyTrip during the third quarter valued at $25,000. USA Financial Formulas purchased a new position in shares of MakeMyTrip during the fourth quarter valued at about $35,000. Advisors Asset Management Inc. increased its holdings in shares of MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock worth $42,000 after purchasing an additional 225 shares during the last quarter. R Squared Ltd purchased a new stake in shares of MakeMyTrip in the fourth quarter worth about $99,000. Finally, BOCHK Asset Management Ltd boosted its stake in MakeMyTrip by 266.7% during the fourth quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock valued at $124,000 after buying an additional 800 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMYT. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America boosted their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Price Performance

MMYT stock opened at $109.27 on Monday. The stock has a market cap of $12.00 billion, a PE ratio of 59.39, a P/E/G ratio of 7.05 and a beta of 1.29. MakeMyTrip Limited has a 12 month low of $53.51 and a 12 month high of $123.00. The company has a 50-day moving average price of $112.15 and a 200 day moving average price of $103.13. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. Equities research analysts anticipate that MakeMyTrip Limited will post 1.27 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.