Jennison Associates LLC cut its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 32.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,340,129 shares of the technology company's stock after selling 645,247 shares during the quarter. Jennison Associates LLC owned about 1.22% of MakeMyTrip worth $131,319,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MakeMyTrip by 9,724.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock worth $2,364,732,000 after purchasing an additional 23,886,735 shares during the last quarter. Norges Bank acquired a new position in shares of MakeMyTrip in the 4th quarter worth approximately $97,833,000. Ninety One UK Ltd grew its stake in shares of MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock worth $75,732,000 after purchasing an additional 727,030 shares during the last quarter. GQG Partners LLC purchased a new position in shares of MakeMyTrip in the fourth quarter worth approximately $60,465,000. Finally, Martin Currie Ltd. purchased a new position in shares of MakeMyTrip in the fourth quarter worth approximately $45,966,000. 51.89% of the stock is currently owned by institutional investors.
MakeMyTrip Trading Up 1.7%
Shares of MakeMyTrip stock traded up $1.61 on Monday, reaching $97.70. 1,741,096 shares of the company's stock were exchanged, compared to its average volume of 839,907. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. MakeMyTrip Limited has a 52 week low of $76.95 and a 52 week high of $123.00. The firm's 50-day moving average is $98.41 and its two-hundred day moving average is $101.08. The company has a market capitalization of $10.87 billion, a P/E ratio of 76.26 and a beta of 0.85.
Wall Street Analyst Weigh In
A number of brokerages have recently 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 increased their price target on shares of MakeMyTrip from $120.00 to $125.00 and gave the company 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 price target for the company in a research note on Tuesday, June 24th.
Check Out Our Latest Report on MMYT
MakeMyTrip 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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