The Manufacturers Life Insurance Company Sells 5,893 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

The Manufacturers Life Insurance Company reduced its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 524,248 shares of the technology company’s stock after selling 5,893 shares during the period. The Manufacturers Life Insurance Company’s holdings in MakeMyTrip were worth $44,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MMYT. EverSource Wealth Advisors LLC increased its position in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp bought a new stake in shares of MakeMyTrip during the second quarter valued at approximately $59,000. nVerses Capital LLC bought a new stake in shares of MakeMyTrip during the second quarter valued at approximately $143,000. LRI Investments LLC bought a new stake in shares of MakeMyTrip during the first quarter valued at approximately $149,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of MakeMyTrip during the second quarter valued at approximately $269,000. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $94.96 on Monday. The stock’s fifty day simple moving average is $96.22 and its 200 day simple moving average is $83.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 5.88 and a beta of 1.28. MakeMyTrip Limited has a one year low of $36.81 and a one year high of $110.49.

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

Analyst Ratings Changes

MMYT has been the topic of a number of research reports. Bank of America boosted their price objective on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Citigroup boosted their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

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.