Ameriprise Financial Inc. Lowers Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Ameriprise Financial Inc. trimmed its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,361 shares of the technology company's stock after selling 82,468 shares during the period. Ameriprise Financial Inc. owned 0.26% of MakeMyTrip worth $32,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. AXA S.A. acquired a new position in shares of MakeMyTrip in the 4th quarter valued at $2,829,000. PDT Partners LLC acquired a new position in shares of MakeMyTrip in the 4th quarter valued at $2,732,000. Schonfeld Strategic Advisors LLC increased its position in shares of MakeMyTrip by 248.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 29,110 shares of the technology company's stock valued at $3,268,000 after acquiring an additional 20,747 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of MakeMyTrip by 13.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 717,751 shares of the technology company's stock valued at $80,589,000 after acquiring an additional 85,689 shares during the period. Finally, Aquatic Capital Management LLC increased its position in shares of MakeMyTrip by 119.0% in the 4th quarter. Aquatic Capital Management LLC now owns 41,165 shares of the technology company's stock valued at $4,622,000 after acquiring an additional 22,365 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup upped their target price on MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday. StockNews.com raised MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday.

MakeMyTrip Stock Performance

MMYT traded down $0.63 during midday trading on Monday, hitting $104.81. 402,600 shares of the company were exchanged, compared to its average volume of 722,030. The company's 50 day simple moving average is $101.52 and its 200 day simple moving average is $105.42. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 56.96, a price-to-earnings-growth ratio of 6.56 and a beta of 0.92. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 1-year low of $72.55 and a 1-year high of $123.00.

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.