Channing Global Advisors LLC Sells 16,488 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Channing Global Advisors LLC reduced its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 93.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the technology company’s stock after selling 16,488 shares during the period. Channing Global Advisors LLC’s holdings in MakeMyTrip were worth $135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMYT. USA Financial Formulas bought a new position in shares of MakeMyTrip in the 4th quarter valued at approximately $35,000. Advisors Asset Management Inc. raised its position in shares of MakeMyTrip by 100.9% in the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after purchasing an additional 225 shares during the period. R Squared Ltd acquired a new stake in shares of MakeMyTrip in the fourth quarter worth $99,000. BOCHK Asset Management Ltd boosted its holdings in shares of MakeMyTrip by 266.7% during the 4th quarter. BOCHK Asset Management Ltd now owns 1,100 shares of the technology company’s stock worth $124,000 after buying an additional 800 shares during the period. Finally, D Orazio & Associates Inc. acquired a new position in MakeMyTrip in the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $105.34 on Wednesday. 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 cap of $11.56 billion, a P/E ratio of 57.25, a PEG ratio of 7.53 and a beta of 1.28. The company has a fifty day moving average price of $112.45 and a 200 day moving average price of $104.35. MakeMyTrip Limited has a one year low of $55.50 and a one year high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 EPS 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 anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, December 27th. StockNews.com downgraded 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.