Franklin Resources Inc. Trims Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Franklin Resources Inc. lowered its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 13.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,490,823 shares of the technology company’s stock after selling 235,873 shares during the period. Franklin Resources Inc.’s holdings in MakeMyTrip were worth $138,572,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC acquired a new stake in shares of MakeMyTrip during the 3rd quarter valued at about $1,219,000. Citigroup Inc. grew its position in shares of MakeMyTrip by 154.3% during the 3rd quarter. Citigroup Inc. now owns 60,123 shares of the technology company’s stock valued at $5,588,000 after acquiring an additional 36,476 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of MakeMyTrip during the 3rd quarter valued at about $674,000. Vanguard Group Inc. acquired a new stake in MakeMyTrip in the 1st quarter worth about $2,317,000. Finally, 1832 Asset Management L.P. acquired a new stake in MakeMyTrip in the 2nd quarter worth about $879,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MMYT has been the topic of several research analyst reports. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a 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 Stock Down 0.3 %

MMYT stock opened at $117.17 on Monday. The firm has a market cap of $12.86 billion, a PE ratio of 64.03, a PEG ratio of 6.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The firm’s 50 day moving average price is $106.93 and its 200-day moving average price is $96.29. MakeMyTrip Limited has a one year low of $43.31 and a one year high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts anticipate that MakeMyTrip Limited will post 1.29 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.