Channing Global Advisors LLC Sells 16,639 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Channing Global Advisors LLC lowered its position in MakeMyTrip Limited (NASDAQ:MMYT) by 48.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,688 shares of the technology company’s stock after selling 16,639 shares during the period. MakeMyTrip accounts for 1.4% of Channing Global Advisors LLC’s portfolio, making the stock its 21st largest holding. Channing Global Advisors LLC’s holdings in MakeMyTrip were worth $1,644,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Park Place Capital Corp acquired a new position in MakeMyTrip during the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake 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 last quarter. Advisors Asset Management Inc. increased its holdings in shares of MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after purchasing an additional 225 shares in the last quarter. Fifth Third Bancorp bought a new position in MakeMyTrip in the 2nd quarter worth approximately $59,000. Finally, nVerses Capital LLC acquired a new position in MakeMyTrip during the 2nd quarter worth $143,000. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Stock Down 0.1 %

NASDAQ:MMYT opened at $114.11 on Friday. The stock’s fifty day simple moving average is $102.89 and its 200-day simple moving average is $93.42. The firm has a market capitalization of $12.53 billion, a P/E ratio of 62.36, a P/E/G ratio of 6.41 and a beta of 1.27. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 12-month low of $41.56 and a 12-month high of $114.92.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million during 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 in the previous year, the company earned $0.18 EPS. Equities research analysts expect that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

MMYT has been the topic of several recent research reports. Bank of America raised their price target on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

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.