GQG Partners LLC Invests $60.47 Million in MakeMyTrip Limited (NASDAQ:MMYT)

GQG Partners LLC acquired a new stake in MakeMyTrip Limited (NASDAQ:MMYT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 538,521 shares of the technology company’s stock, valued at approximately $60,465,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in shares of MakeMyTrip by 51.2% in the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares during the period. Wasatch Advisors LP bought a new stake in MakeMyTrip in the third quarter valued at about $44,521,000. Bank of New York Mellon Corp lifted its stake in MakeMyTrip by 939.1% in the fourth quarter. Bank of New York Mellon Corp now owns 329,173 shares of the technology company’s stock valued at $36,959,000 after buying an additional 297,493 shares during the period. American Century Companies Inc. boosted its holdings in MakeMyTrip by 17.4% during the fourth quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company’s stock worth $142,528,000 after buying an additional 188,234 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of MakeMyTrip by 20.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after buying an additional 107,814 shares during the period. 51.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MMYT shares. Bank of America increased their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, December 27th. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th.

MakeMyTrip Trading Up 5.9 %

NASDAQ:MMYT opened at $107.02 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The business’s 50-day simple moving average is $101.92 and its 200-day simple moving average is $105.02. MakeMyTrip Limited has a fifty-two week low of $60.55 and a fifty-two week high of $123.00. The stock has a market capitalization of $11.75 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 6.56 and a beta of 1.36.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. Sell-side analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal 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.