Jennison Associates LLC Sells 113,093 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Jennison Associates LLC decreased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 898,514 shares of the technology company’s stock after selling 113,093 shares during the period. Jennison Associates LLC owned approximately 0.85% of MakeMyTrip worth $42,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Harbour Capital Advisors LLC increased its position in MakeMyTrip by 2.6% during the fourth quarter. Harbour Capital Advisors LLC now owns 17,845 shares of the technology company’s stock valued at $824,000 after acquiring an additional 447 shares during the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of MakeMyTrip by 2.3% in the third quarter. Liontrust Investment Partners LLP now owns 30,509 shares of the technology company’s stock worth $1,236,000 after purchasing an additional 695 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of MakeMyTrip by 12.3% in the fourth quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock worth $331,000 after purchasing an additional 774 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of MakeMyTrip by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,490 shares of the technology company’s stock worth $963,000 after purchasing an additional 799 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in shares of MakeMyTrip by 449.8% in the third quarter. Banque Cantonale Vaudoise now owns 3,398 shares of the technology company’s stock worth $138,000 after purchasing an additional 2,780 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Macquarie downgraded shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and raised their target price for the company from $50.00 to $60.00 in a research report on Wednesday, February 21st.

MakeMyTrip Stock Up 5.0 %

NASDAQ:MMYT opened at $65.20 on Wednesday. MakeMyTrip Limited has a fifty-two week low of $22.50 and a fifty-two week high of $77.30. The stock has a market capitalization of $6.92 billion, a P/E ratio of 141.74 and a beta of 1.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53. The company’s 50-day simple moving average is $64.37 and its 200-day simple moving average is $52.05.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. The company had revenue of $214.22 million during the quarter, compared to analysts’ expectations of $210.01 million. MakeMyTrip had a net margin of 6.93% and a return on equity of 10.13%. On average, equities analysts anticipate that MakeMyTrip Limited will post 0.84 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.