MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 29.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund 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 approximately 0.21% of MakeMyTrip worth $22,709,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MakeMyTrip by 9,724.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock worth $2,364,732,000 after buying an additional 23,886,735 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of MakeMyTrip by 3.6% in the 4th quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company's stock worth $462,470,000 after buying an additional 141,507 shares during the last quarter. FMR LLC lifted its position in shares of MakeMyTrip by 4.3% in the 4th quarter. FMR LLC now owns 3,793,574 shares of the technology company's stock worth $425,942,000 after buying an additional 158,101 shares during the last quarter. Franklin Resources Inc. lifted its position in MakeMyTrip by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 1,503,980 shares of the technology company's stock valued at $168,867,000 after purchasing an additional 13,157 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in MakeMyTrip by 17.4% in the 4th quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company's stock valued at $142,528,000 after purchasing an additional 188,234 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MMYT. Citigroup lifted their price objective on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Macquarie upgraded 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.

MakeMyTrip Price Performance

MakeMyTrip stock traded up $1.61 during trading hours on Monday, hitting $97.70. 1,741,096 shares of the company traded hands, compared to its average volume of 839,907. The firm has a market cap of $10.87 billion, a P/E ratio of 117.71 and a beta of 0.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $98.41 and its two-hundred day simple moving average is $101.08. MakeMyTrip Limited has a 1-year low of $76.95 and a 1-year high of $123.00.

About MakeMyTrip

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.