Renaissance Technologies LLC Takes $2.40 Million Position in MakeMyTrip Limited (NASDAQ:MMYT)

Renaissance Technologies LLC acquired a new position in MakeMyTrip Limited (NASDAQ:MMYT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,400 shares of the technology company’s stock, valued at approximately $2,403,000.

A number of other hedge funds also recently bought and sold shares of MMYT. Schroder Investment Management Group increased its position in shares of MakeMyTrip by 3.6% during the 4th quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company’s stock valued at $462,470,000 after purchasing an additional 141,507 shares during the last quarter. FMR LLC grew its position in MakeMyTrip by 4.3% during the fourth quarter. FMR LLC now owns 3,793,574 shares of the technology company’s stock valued at $425,942,000 after buying an additional 158,101 shares during the period. Franklin Resources Inc. grew its position in MakeMyTrip by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 1,503,980 shares of the technology company’s stock valued at $168,867,000 after buying an additional 13,157 shares during the period. American Century Companies Inc. raised its position in MakeMyTrip by 17.4% in the fourth quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company’s stock worth $142,528,000 after acquiring an additional 188,234 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of MakeMyTrip by 3.9% during the 4th quarter. William Blair Investment Management LLC now owns 935,751 shares of the technology company’s stock worth $105,066,000 after acquiring an additional 34,919 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Up 1.5 %

Shares of MMYT stock opened at $107.64 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. MakeMyTrip Limited has a one year low of $65.54 and a one year high of $123.00. The company’s fifty day moving average price is $97.56 and its 200-day moving average price is $104.98. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 58.50, a PEG ratio of 6.56 and a beta of 1.00.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 EPS for the quarter, missing 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%. Sell-side analysts expect that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MMYT shares. Bank of America raised their target price on MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report 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.