APG Asset Management N.V. Cuts Stock Holdings in MakeMyTrip Limited $MMYT

Key Points

• APG Asset Management N.V. reduced its stake in MakeMyTrip Limited by 49.2% in the 1st quarter, holding approximately $12 million worth of shares after selling over 128,000.
• Institutional investors have significantly increased their holdings in MakeMyTrip, with Mirae Asset Global Investments boosting its stake by 9,724%, now owning shares worth over $2.3 billion.
• Wall Street analysts generally maintain a Buy consensus on MakeMyTrip, with a price target averaging $120, despite varying individual ratings from different firms.

APG Asset Management N.V. trimmed its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 49.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,237 shares of the technology company's stock after selling 128,216 shares during the period. APG Asset Management N.V. owned about 0.12% of MakeMyTrip worth $11,996,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MMYT. Stone House Investment Management LLC bought a new stake in shares of MakeMyTrip during the 1st quarter worth $49,000. Parallel Advisors LLC raised its stake in MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after acquiring an additional 477 shares during the period. Gen Wealth Partners Inc raised its stake in MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after acquiring an additional 165 shares during the period. Signaturefd LLC raised its stake in MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after acquiring an additional 270 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in MakeMyTrip in the 1st quarter valued at about $107,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT traded down $1.70 during midday trading on Friday, hitting $98.75. 538,700 shares of the company's stock were exchanged, compared to its average volume of 704,978. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 114.83 and a beta of 0.86. The business's fifty day moving average price is $96.81 and its two-hundred day moving average price is $98.83.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMYT. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 24th. Citigroup lowered their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MakeMyTrip presently has a consensus rating of "Buy" and an average price target of $120.00.

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.