Norges Bank Makes New Investment in MakeMyTrip Limited (NASDAQ:MMYT)

Norges Bank bought a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 871,328 shares of the technology company’s stock, valued at approximately $97,833,000. Norges Bank owned approximately 0.79% of MakeMyTrip as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. BIT Capital GmbH bought a new position in shares of MakeMyTrip during the fourth quarter worth $965,000. Sava Infond d.o.o. bought a new position in shares of MakeMyTrip during the 4th quarter valued at about $1,482,000. GQG Partners LLC purchased a new position in shares of MakeMyTrip during the fourth quarter valued at about $60,465,000. American Century Companies Inc. increased its holdings in shares of 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 purchasing an additional 188,234 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of MakeMyTrip by 3.9% in the fourth quarter. William Blair Investment Management LLC now owns 935,751 shares of the technology company’s stock worth $105,066,000 after buying an additional 34,919 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $99.13 on Wednesday. MakeMyTrip Limited has a 1-year low of $60.55 and a 1-year high of $123.00. The company’s 50-day moving average is $101.81 and its 200 day moving average is $105.27. The firm has a market capitalization of $10.88 billion, a P/E ratio of 53.88, a price-to-earnings-growth ratio of 6.56 and a beta of 1.36. 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 (NASDAQ:MMYT) last released its earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. Research analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on MMYT shares. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America upped their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, December 27th.

MakeMyTrip Company 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.