Nomura Asset Management Co. Ltd. Trims Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Nomura Asset Management Co. Ltd. lessened its position in MakeMyTrip Limited (NASDAQ:MMYT) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,987 shares of the technology company’s stock after selling 9,413 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in MakeMyTrip were worth $4,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Park Place Capital Corp purchased a new position in MakeMyTrip during the third quarter valued at $25,000. Advisors Asset Management Inc. lifted its position in MakeMyTrip by 100.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after acquiring an additional 225 shares during the period. Fifth Third Bancorp bought a new stake in MakeMyTrip during the second quarter worth about $59,000. EverSource Wealth Advisors LLC grew its holdings in MakeMyTrip by 44.1% in the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock worth $65,000 after purchasing an additional 236 shares during the period. Finally, nVerses Capital LLC purchased a new stake in MakeMyTrip in the second quarter worth about $143,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Price Performance

Shares of MMYT opened at $117.17 on Friday. The company has a market capitalization of $12.86 billion, a P/E ratio of 64.03, a price-to-earnings-growth ratio of 6.74 and a beta of 1.27. MakeMyTrip Limited has a twelve month low of $43.31 and a twelve month high of $123.00. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $106.57 and a 200 day moving average of $95.90.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The firm had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MMYT. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America boosted their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

MakeMyTrip Company 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.