Massachusetts Financial Services Co. MA Sells 244,950 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Massachusetts Financial Services Co. MA lessened its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 22.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 834,499 shares of the technology company’s stock after selling 244,950 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.76% of MakeMyTrip worth $70,181,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. FIL Ltd raised its holdings in MakeMyTrip by 1.2% during the 4th quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after acquiring an additional 74,951 shares during the period. Baillie Gifford & Co. raised its holdings in MakeMyTrip by 85.7% during the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after acquiring an additional 1,879,726 shares during the period. Artisan Partners Limited Partnership raised its holdings in MakeMyTrip by 64.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after acquiring an additional 1,357,884 shares during the period. Schroder Investment Management Group raised its holdings in MakeMyTrip by 39.2% during the 4th quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock valued at $122,520,000 after acquiring an additional 734,336 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in MakeMyTrip by 54.5% during 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 acquiring an additional 387,695 shares during the period. Institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the topic of a number of analyst reports. Citigroup boosted their target price 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 raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Bank of America boosted their target price on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.

MakeMyTrip Stock Up 1.4 %

MMYT opened at $105.76 on Thursday. The company has a fifty day moving average price of $93.90 and a 200-day moving average price of $80.89. The firm has a market capitalization of $11.61 billion, a P/E ratio of 63.33, a price-to-earnings-growth ratio of 5.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. MakeMyTrip Limited has a one year low of $36.81 and a one year high of $109.05.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The firm had revenue of $254.52 million during the quarter, compared to analyst estimates of $231.85 million. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. Equities research analysts expect that MakeMyTrip Limited will post 1.38 earnings per share 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.