Keystone Investors PTE Ltd. Trims Position in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

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Keystone Investors PTE Ltd. trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 98.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,526 shares of the technology company's stock after selling 851,470 shares during the quarter. Keystone Investors PTE Ltd.'s holdings in MakeMyTrip were worth $933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MMYT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of MakeMyTrip by 9,724.0% during the first 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 acquiring an additional 23,886,735 shares during the period. Baillie Gifford & Co. increased its stake in shares of MakeMyTrip by 40.0% during the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock worth $505,158,000 after acquiring an additional 1,471,660 shares during the period. Ninety One UK Ltd increased its stake in shares of MakeMyTrip by 1,586.6% during the first quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock worth $75,732,000 after acquiring an additional 727,030 shares during the period. Ninety One North America Inc. acquired a new position in shares of MakeMyTrip during the first quarter worth about $18,737,000. Finally, Carrhae Capital LLP increased its stake in shares of MakeMyTrip by 88.6% during the first quarter. Carrhae Capital LLP now owns 397,945 shares of the technology company's stock worth $38,995,000 after acquiring an additional 186,995 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MMYT. Citigroup dropped their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, 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 research report on Tuesday, June 24th.

MakeMyTrip Price Performance

MMYT traded up $0.88 on Tuesday, hitting $95.41. 267,115 shares of the company were exchanged, compared to its average volume of 1,046,298. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The business's fifty day moving average is $96.31 and its 200 day moving average is $99.82. MakeMyTrip Limited has a fifty-two week low of $81.84 and a fifty-two week high of $123.00. The firm has a market capitalization of $10.61 billion, a P/E ratio of 110.95 and a beta of 0.86.

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.