Wellington Management Group LLP Cuts Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Wellington Management Group LLP lessened its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 37.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 716,644 shares of the technology company’s stock after selling 432,416 shares during the quarter. Wellington Management Group LLP owned approximately 0.65% of MakeMyTrip worth $80,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its stake in MakeMyTrip by 41.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company’s stock worth $43,000 after purchasing an additional 111 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of MakeMyTrip in the fourth quarter worth about $35,000. Robeco Institutional Asset Management B.V. boosted its stake in MakeMyTrip by 1.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,616 shares of the technology company’s stock valued at $3,887,000 after buying an additional 400 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of MakeMyTrip by 11.3% in the fourth quarter. Csenge Advisory Group now owns 4,159 shares of the technology company’s stock valued at $467,000 after purchasing an additional 421 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of MakeMyTrip by 17.7% in the 4th quarter. Bleakley Financial Group LLC now owns 3,272 shares of the technology company’s stock worth $367,000 after buying an additional 493 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America upped their target price 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 MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock opened at $87.12 on Friday. MakeMyTrip Limited has a 52 week low of $60.55 and a 52 week high of $123.00. The company has a market capitalization of $9.56 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 6.56 and a beta of 1.00. The stock’s fifty day moving average is $101.07 and its two-hundred day moving average is $105.07. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) 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%. As a group, analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current 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.