Channing Global Advisors LLC Has $1.64 Million Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Channing Global Advisors LLC trimmed its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 48.5% in the third quarter, Holdings Channel reports. The fund owned 17,688 shares of the technology company’s stock after selling 16,639 shares during the period. MakeMyTrip accounts for about 1.4% of Channing Global Advisors LLC’s portfolio, making the stock its 21st biggest position. Channing Global Advisors LLC’s holdings in MakeMyTrip were worth $1,644,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of MakeMyTrip during the first quarter worth $2,317,000. LRI Investments LLC acquired a new stake in shares of MakeMyTrip in the 1st quarter valued at about $149,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MakeMyTrip in the first quarter valued at about $283,000. EverSource Wealth Advisors LLC boosted its position in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after buying an additional 332 shares during the period. Finally, Capital CS Group LLC bought a new position in shares of MakeMyTrip during the second quarter worth about $656,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Stock Performance

MMYT opened at $114.11 on Friday. The business’s 50-day simple moving average is $102.89 and its 200 day simple moving average is $93.42. MakeMyTrip Limited has a 52-week low of $41.56 and a 52-week high of $114.92. 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 has a market capitalization of $12.53 billion, a PE ratio of 62.36, a PEG ratio of 6.41 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The business had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. During the same period last year, the business earned $0.18 earnings per share. As a group, sell-side analysts expect that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on MMYT shares. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America boosted their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

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.