Triasima Portfolio Management inc. Invests $2.26 Million in MakeMyTrip Limited (NASDAQ:MMYT)

Triasima Portfolio Management inc. bought a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the fourth quarter, HoldingsChannel reports. The firm bought 20,122 shares of the technology company’s stock, valued at approximately $2,259,000.

A number of other institutional investors also recently modified their holdings of MMYT. FMR LLC raised its stake in MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock worth $337,917,000 after buying an additional 1,230,916 shares in the last quarter. Jennison Associates LLC raised its stake in MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after buying an additional 1,710,773 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after buying an additional 107,814 shares in the last quarter. Janus Henderson Group PLC raised its stake in MakeMyTrip by 1.3% in the third quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company’s stock worth $47,258,000 after buying an additional 6,378 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in MakeMyTrip in the third quarter worth about $44,521,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $116.69 on Friday. MakeMyTrip Limited has a fifty-two week low of $55.40 and a fifty-two week high of $123.00. The company has a 50 day simple moving average of $112.50 and a two-hundred day simple moving average of $103.80. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 63.42, a P/E/G ratio of 7.05 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. Analysts expect that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

MMYT has been the subject of a number of research reports. Bank of America increased their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 27th. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 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.