Keystone Investors PTE Ltd. Sells 851,470 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

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Keystone Investors PTE Ltd. reduced its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 98.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,526 shares of the technology company's stock after selling 851,470 shares during the period. Keystone Investors PTE Ltd.'s holdings in MakeMyTrip were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 valued at $2,364,732,000 after acquiring an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. raised its holdings in MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after acquiring an additional 1,471,660 shares in the last quarter. FMR LLC raised its holdings in MakeMyTrip by 4.3% in the 4th 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 in the last quarter. Ninety One UK Ltd raised its holdings in MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock valued at $75,732,000 after acquiring an additional 727,030 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in MakeMyTrip by 13.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 717,751 shares of the technology company's stock valued at $80,589,000 after acquiring an additional 85,689 shares in the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on MMYT. Citigroup dropped 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 MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Tuesday, June 24th.

MakeMyTrip Price Performance

MMYT stock traded down $1.02 during midday trading on Friday, reaching $94.54. 497,405 shares of the stock were exchanged, compared to its average volume of 1,317,696. The stock has a market capitalization of $10.52 billion, a PE ratio of 109.93 and a beta of 0.86. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. The company has a fifty day moving average price of $96.49 and a 200 day moving average price of $99.99.

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.