BIT Capital GmbH Has $350,000 Holdings 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 lessened its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 58.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new position in MakeMyTrip in the 4th quarter worth approximately $939,000. Headlands Technologies LLC boosted its stake in shares of MakeMyTrip by 59.0% during the 4th quarter. Headlands Technologies LLC now owns 2,489 shares of the technology company's stock valued at $279,000 after buying an additional 924 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of MakeMyTrip by 0.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 618,852 shares of the technology company's stock valued at $69,485,000 after buying an additional 3,730 shares during the last quarter. Atlas Capital Advisors Inc. boosted its stake in shares of MakeMyTrip by 172.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 2,496 shares of the technology company's stock valued at $280,000 after buying an additional 1,579 shares during the last quarter. Finally, Prudential PLC boosted its stake in shares of MakeMyTrip by 70.8% during the 4th quarter. Prudential PLC now owns 10,787 shares of the technology company's stock valued at $1,211,000 after buying an additional 4,470 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup dropped their price target on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. 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. Finally, Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday.

MakeMyTrip Price Performance

NASDAQ:MMYT traded down $0.82 during mid-day trading on Tuesday, reaching $92.74. 926,810 shares of the stock were exchanged, compared to its average volume of 1,059,401. The business has a fifty day moving average price of $97.28 and a 200 day moving average price of $100.31. The firm has a market capitalization of $10.32 billion, a PE ratio of 107.84 and a beta of 0.86. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year 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.

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.