Bank of New York Mellon Corp trimmed its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 29.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,749 shares of the technology company's stock after selling 97,424 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of MakeMyTrip worth $22,709,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in shares of MakeMyTrip by 1,014.9% in the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after acquiring an additional 477 shares in the last quarter. Signaturefd LLC purchased a new position in shares of MakeMyTrip in the fourth quarter worth approximately $74,000. Gen Wealth Partners Inc increased its position in shares of MakeMyTrip by 29.5% in the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after acquiring an additional 165 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of MakeMyTrip in the first quarter worth approximately $107,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of MakeMyTrip in the fourth quarter worth approximately $125,000. 51.89% of the stock is currently owned by institutional investors.
MakeMyTrip Stock Performance
NASDAQ:MMYT traded up $0.62 during trading hours on Friday, hitting $96.09. 1,216,876 shares of the company traded hands, compared to its average volume of 836,286. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 115.77 and a beta of 0.85. MakeMyTrip Limited has a twelve month low of $76.95 and a twelve month high of $123.00. The firm has a 50-day moving average of $98.41 and a 200 day moving average of $101.19. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01.
Analysts Set New Price Targets
MMYT has been the topic of a number of research analyst reports. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Citigroup lifted their target price on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, May 15th.
Check Out Our Latest Analysis on MakeMyTrip
About MakeMyTrip
(
Free Report)
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.
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