Hsbc Holdings PLC Sells 2,939 Shares of MakeMyTrip Limited $MMYT

Key Points

• Hsbc Holdings PLC has reduced its stake in MakeMyTrip Limited by 26.4%, selling 2,939 shares during the first quarter, leaving it with 8,180 shares valued at approximately $802,000.
• Multiple hedge funds have altered their holdings with Parallel Advisors LLC increasing its stake by 1,014.9% and Stone House Investment Management LLC acquiring a new position worth about $49,000.
• Analysts have mixed opinions on MakeMyTrip stock, with Macquarie upgrading it to "outperform" and Citigroup lowering its price target, leading to a consensus rating of "Buy" with a target price of $120.00.

Hsbc Holdings PLC lowered its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,180 shares of the technology company's stock after selling 2,939 shares during the quarter. Hsbc Holdings PLC's holdings in MakeMyTrip were worth $802,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of MakeMyTrip during the first quarter valued at about $49,000. Parallel Advisors LLC increased its holdings in shares of MakeMyTrip by 1,014.9% during the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after acquiring an additional 477 shares in the last quarter. Gen Wealth Partners Inc increased its holdings in shares of MakeMyTrip by 29.5% during the fourth 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 in the last quarter. Signaturefd LLC increased its holdings in shares of MakeMyTrip by 40.9% during the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after acquiring an additional 270 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of MakeMyTrip during the first quarter valued at about $107,000. Institutional investors and hedge funds own 51.89% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MMYT shares. 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 report on Tuesday, June 24th. Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Citigroup cut their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating, According to MarketBeat, MakeMyTrip has a consensus rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Trading Down 1.7%

NASDAQ MMYT opened at $98.75 on Friday. The company has a market capitalization of $10.99 billion, a PE ratio of 114.83 and a beta of 0.86. The company has a fifty day moving average of $96.81 and a 200 day moving average of $98.78. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15.

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.

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