Jennison Associates LLC Purchases 1,710,773 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Jennison Associates LLC grew its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 282.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,316,572 shares of the technology company’s stock after buying an additional 1,710,773 shares during the quarter. Jennison Associates LLC owned 2.11% of MakeMyTrip worth $215,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of MMYT. Baillie Gifford & Co. lifted its stake in MakeMyTrip by 85.7% in the second quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after purchasing an additional 1,879,726 shares during the last quarter. Marshall Wace LLP raised its position in shares of MakeMyTrip by 129.2% in the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after purchasing an additional 539,067 shares during the period. William Blair Investment Management LLC grew its stake in MakeMyTrip by 54.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after buying an additional 387,695 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of MakeMyTrip by 143.2% in the first quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock worth $32,574,000 after acquiring an additional 269,988 shares during the period. Finally, Sei Investments Co. lifted its holdings in MakeMyTrip by 39.7% during the 2nd quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock worth $38,599,000 after purchasing an additional 130,424 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MMYT shares. Citigroup raised their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Bank of America upped their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

MakeMyTrip Stock Up 2.7 %

Shares of NASDAQ:MMYT opened at $103.00 on Wednesday. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 56.28, a PEG ratio of 5.48 and a beta of 1.27. The stock has a fifty day simple moving average of $101.64 and a two-hundred day simple moving average of $91.64. MakeMyTrip Limited has a 12-month low of $41.56 and a 12-month high of $113.61. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter last year, the company earned $0.18 EPS. On average, research analysts anticipate that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal 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.