Jennison Associates LLC trimmed its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 32.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,340,129 shares of the technology company's stock after selling 645,247 shares during the period. Jennison Associates LLC owned 1.22% of MakeMyTrip worth $131,319,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MMYT. Parallel Advisors LLC raised its position in 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 purchasing an additional 477 shares in the last quarter. Signaturefd LLC bought a new stake in shares of MakeMyTrip in the fourth quarter worth $74,000. Gen Wealth Partners Inc grew its stake in shares of MakeMyTrip by 29.5% in the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after purchasing an additional 165 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of MakeMyTrip in the first quarter worth $107,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of MakeMyTrip during the 4th quarter valued at about $125,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.
MakeMyTrip Price Performance
Shares of NASDAQ MMYT traded up $0.62 during mid-day trading on Friday, reaching $96.09. 1,216,876 shares of the company were exchanged, compared to its average volume of 836,491. MakeMyTrip Limited has a 52 week low of $76.95 and a 52 week high of $123.00. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $10.69 billion, a PE ratio of 115.77 and a beta of 0.85. The company's 50 day moving average price is $98.41 and its 200 day moving average price is $101.26.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Citigroup increased their price objective on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, May 15th.
Read Our Latest Stock Analysis on MMYT
MakeMyTrip Company Profile
(
Free Report)
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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