Hsbc Holdings PLC Cuts Stock Position in 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 position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent 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 filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in MakeMyTrip by 325.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,218 shares of the technology company's stock worth $2,202,000 after purchasing an additional 17,000 shares during the period. E Fund Management Co. Ltd. grew its holdings in MakeMyTrip by 345.1% in the 1st quarter. E Fund Management Co. Ltd. now owns 14,004 shares of the technology company's stock worth $1,372,000 after acquiring an additional 10,858 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in MakeMyTrip during the 4th quarter valued at approximately $2,183,000. Squarepoint Ops LLC lifted its stake in MakeMyTrip by 103.1% in the fourth quarter. Squarepoint Ops LLC now owns 6,105 shares of the technology company's stock worth $685,000 after acquiring an additional 3,099 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in MakeMyTrip by 21.9% in the first quarter. Jupiter Asset Management Ltd. now owns 96,297 shares of the technology company's stock valued at $9,436,000 after acquiring an additional 17,286 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock traded down $0.16 during trading on Friday, hitting $99.93. 253,526 shares of the company's stock traded hands, compared to its average volume of 1,007,407. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The business has a 50-day simple moving average of $97.09 and a 200-day simple moving average of $98.68. The stock has a market capitalization of $11.12 billion, a P/E ratio of 116.20 and a beta of 0.87. 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

MMYT has been the subject of a number of research reports. Citigroup decreased their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, 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 note on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $120.00.

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.