BIT Capital GmbH Has $350,000 Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• BIT Capital GmbH significantly reduced its stake in MakeMyTrip Limited by 58.4%, selling 5,021 shares during the first quarter, leaving it with 3,570 shares valued at $350,000.
• Various institutional investors, such as Haven Private LLC and Jupiter Asset Management Ltd., increased their stakes in MakeMyTrip, with ownership now totaling 51.89% by institutional investors.
• Analyst recommendations for MakeMyTrip have been mixed, with Macquarie upgrading it to "outperform" while Citigroup and Wall Street Zen adjusted their target prices and ratings downward.

BIT Capital GmbH cut its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 58.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,570 shares of the technology company's stock after selling 5,021 shares during the quarter. BIT Capital GmbH's holdings in MakeMyTrip were worth $350,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of MakeMyTrip by 325.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,218 shares of the technology company's stock worth $2,202,000 after buying an additional 17,000 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of MakeMyTrip during the fourth quarter worth approximately $2,183,000. Squarepoint Ops LLC boosted its position in shares of MakeMyTrip by 103.1% during the fourth quarter. Squarepoint Ops LLC now owns 6,105 shares of the technology company's stock worth $685,000 after buying an additional 3,099 shares during the period. Diversify Wealth Management LLC acquired a new stake in MakeMyTrip in the first quarter worth approximately $1,063,000. Finally, Carrhae Capital LLP lifted its position in MakeMyTrip by 88.6% in the first quarter. Carrhae Capital LLP now owns 397,945 shares of the technology company's stock worth $38,995,000 after purchasing an additional 186,995 shares during the period. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Price Performance

Shares of NASDAQ:MMYT traded down $0.62 on Wednesday, reaching $92.12. 523,589 shares of the company traded hands, compared to its average volume of 1,055,852. MakeMyTrip Limited has a fifty-two week low of $81.84 and a fifty-two week high of $123.00. The company's 50 day moving average is $96.92 and its 200-day moving average is $100.17. The stock has a market capitalization of $10.25 billion, a PE ratio of 106.82 and a beta of 0.86. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Tuesday, June 24th. Citigroup cut their target price on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday.

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.