Janney Montgomery Scott LLC Sells 16,063 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Janney Montgomery Scott LLC reduced its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 82.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,522 shares of the technology company's stock after selling 16,063 shares during the period. Janney Montgomery Scott LLC's holdings in MakeMyTrip were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Schroder Investment Management Group raised its holdings 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 purchasing an additional 141,507 shares in the last quarter. FMR LLC raised its holdings in shares of MakeMyTrip by 4.3% during the fourth quarter. FMR LLC now owns 3,793,574 shares of the technology company's stock valued at $425,942,000 after acquiring an additional 158,101 shares during the period. Franklin Resources Inc. raised its holdings in shares of MakeMyTrip by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 1,503,980 shares of the technology company's stock valued at $168,867,000 after acquiring an additional 13,157 shares during the period. American Century Companies Inc. raised its holdings in shares of MakeMyTrip by 17.4% during the fourth quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company's stock valued at $142,528,000 after acquiring an additional 188,234 shares during the period. Finally, William Blair Investment Management LLC increased its stake in MakeMyTrip by 3.9% in the 4th quarter. William Blair Investment Management LLC now owns 935,751 shares of the technology company's stock valued at $105,066,000 after buying an additional 34,919 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Stock Performance

MakeMyTrip stock traded up $1.41 during mid-day trading on Friday, reaching $95.53. The company had a trading volume of 585,022 shares, compared to its average volume of 828,037. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.01. MakeMyTrip Limited has a 52 week low of $76.95 and a 52 week high of $123.00. The company has a 50 day moving average of $101.03 and a 200-day moving average of $102.65. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 115.10 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MMYT. Wall Street Zen upgraded shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Citigroup boosted their target price on shares of MakeMyTrip from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Macquarie raised shares of 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.

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.