MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 639,453 shares of the technology company’s stock after selling 27,546 shares during the period. Pictet Asset Management Holding SA’s holdings in MakeMyTrip were worth $71,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. raised its stake in shares of MakeMyTrip by 237.5% in the fourth quarter. Rheos Capital Works Inc. now owns 135,000 shares of the technology company’s stock worth $15,158,000 after purchasing an additional 95,000 shares during the last quarter. Citigroup Inc. raised its position in MakeMyTrip by 154.3% during the 3rd quarter. Citigroup Inc. now owns 60,123 shares of the technology company’s stock worth $5,588,000 after buying an additional 36,476 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in MakeMyTrip during the 3rd quarter valued at approximately $1,134,000. New York State Common Retirement Fund boosted its holdings in shares of MakeMyTrip by 100.2% in the 4th quarter. New York State Common Retirement Fund now owns 101,279 shares of the technology company’s stock valued at $11,372,000 after acquiring an additional 50,689 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of MakeMyTrip by 7.7% in the third quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company’s stock worth $25,397,000 after acquiring an additional 19,471 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MMYT. Bank of America boosted 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 cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $103.51 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 56.26, a PEG ratio of 6.56 and a beta of 1.36. The firm’s 50 day simple moving average is $102.00 and its 200-day simple moving average is $105.28. MakeMyTrip Limited has a 12 month low of $60.55 and a 12 month high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 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%. Analysts expect that MakeMyTrip Limited will post 1.27 EPS for the current year.

About MakeMyTrip

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.