Nicholas Investment Partners LP Takes $3.52 Million Position in MakeMyTrip Limited (MMYT)

Nicholas Investment Partners LP purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 104,782 shares of the technology company’s stock, valued at approximately $3,515,000. Nicholas Investment Partners LP owned 0.10% of MakeMyTrip Limited at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMYT. First Trust Advisors LP boosted its stake in MakeMyTrip Limited by 34.9% in the 1st quarter. First Trust Advisors LP now owns 158,516 shares of the technology company’s stock valued at $5,485,000 after purchasing an additional 41,024 shares during the period. American Century Companies Inc. bought a new stake in MakeMyTrip Limited in the 1st quarter valued at $1,754,000. Comerica Bank boosted its stake in MakeMyTrip Limited by 1.2% in the 1st quarter. Comerica Bank now owns 75,613 shares of the technology company’s stock valued at $2,938,000 after purchasing an additional 863 shares during the period. Sei Investments Co. boosted its stake in MakeMyTrip Limited by 611.4% in the 1st quarter. Sei Investments Co. now owns 98,575 shares of the technology company’s stock valued at $3,411,000 after purchasing an additional 84,718 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in MakeMyTrip Limited by 1,002.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 115,823 shares of the technology company’s stock valued at $4,007,000 after purchasing an additional 105,316 shares during the period. Institutional investors and hedge funds own 43.28% of the company’s stock.

Several research firms recently issued reports on MMYT. TheStreet upgraded MakeMyTrip Limited from a “d” rating to a “c-” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. ValuEngine upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating and boosted their price target for the company from $19.80 to $32.00 in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.30.

Shares of MakeMyTrip Limited (NASDAQ:MMYT) traded down 8.25% during trading on Wednesday, reaching $30.60. The company’s stock had a trading volume of 574,710 shares. The stock has a 50-day moving average of $32.26 and a 200-day moving average of $33.69. MakeMyTrip Limited has a 52-week low of $19.75 and a 52-week high of $40.90. The stock’s market cap is $2.98 billion.

MakeMyTrip Limited (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.14). MakeMyTrip Limited had a negative return on equity of 16.91% and a negative net margin of 31.64%. The company had revenue of $141.21 million during the quarter, compared to the consensus estimate of $110.67 million. During the same period in the previous year, the business earned ($0.73) earnings per share. MakeMyTrip Limited’s revenue was up 139.9% on a year-over-year basis. Analysts predict that MakeMyTrip Limited will post ($2.20) earnings per share for the current fiscal year.

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MakeMyTrip Limited Company Profile

MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.

Institutional Ownership by Quarter for MakeMyTrip Limited (NASDAQ:MMYT)

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