Navellier & Associates Inc. Sells 4,233 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Navellier & Associates Inc. cut its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,535 shares of the technology company’s stock after selling 4,233 shares during the period. Navellier & Associates Inc.’s holdings in MakeMyTrip were worth $3,210,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in MakeMyTrip in the 1st quarter valued at $3,891,000. GSA Capital Partners LLP acquired a new stake in shares of MakeMyTrip during the third quarter worth $674,000. Vanguard Group Inc. bought a new stake in shares of MakeMyTrip in the first quarter valued at about $2,317,000. 1832 Asset Management L.P. acquired a new position in shares of MakeMyTrip in the second quarter valued at about $879,000. Finally, U S Global Investors Inc. increased its position in MakeMyTrip by 7.2% during the third quarter. U S Global Investors Inc. now owns 105,335 shares of the technology company’s stock worth $9,791,000 after acquiring an additional 7,114 shares during the period. Institutional investors own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MMYT. Citigroup boosted their price objective on shares of MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Bank of America lifted their price objective on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $107.27 on Thursday. MakeMyTrip Limited has a 1 year low of $41.56 and a 1 year high of $113.61. The company’s 50 day simple moving average is $101.96 and its 200 day simple moving average is $91.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 58.62, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. The business had revenue of $210.99 million for 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 period last year, the firm posted $0.18 earnings per share. As a group, research analysts predict that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

MakeMyTrip 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.