Jennison Associates LLC Purchases 11,837 Shares of MakeMyTrip Limited $MMYT

Jennison Associates LLC increased its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,861,604 shares of the technology company’s stock after buying an additional 11,837 shares during the quarter. Jennison Associates LLC owned 1.67% of MakeMyTrip worth $174,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its holdings in shares of MakeMyTrip by 42.4% in the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after acquiring an additional 1,674,538 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of MakeMyTrip by 12.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock valued at $207,316,000 after purchasing an additional 234,670 shares during the period. Franklin Resources Inc. grew its position in shares of MakeMyTrip by 30.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock valued at $200,235,000 after purchasing an additional 471,274 shares during the period. American Century Companies Inc. increased its stake in MakeMyTrip by 8.3% during the 2nd quarter. American Century Companies Inc. now owns 1,447,280 shares of the technology company’s stock worth $141,862,000 after purchasing an additional 111,272 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in MakeMyTrip by 37.1% during the 2nd quarter. Marshall Wace LLP now owns 1,389,137 shares of the technology company’s stock worth $136,163,000 after buying an additional 375,928 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings initiated coverage on shares of MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Bank of America reduced their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Finally, Citigroup decreased their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $62.60 on Friday. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.91 and a current ratio of 1.85. The stock has a 50 day moving average price of $77.34 and a 200 day moving average price of $87.81. The stock has a market capitalization of $6.96 billion, a PE ratio of 130.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.66. MakeMyTrip Limited has a 52 week low of $62.01 and a 52 week high of $120.72.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. Analysts predict that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.