MakeMyTrip Limited $MMYT Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 48.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 232,778 shares of the technology company's stock after selling 217,867 shares during the period. Bank of America Corp DE owned 0.21% of MakeMyTrip worth $8,680,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC grew its position in MakeMyTrip by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 117,787 shares of the technology company's stock worth $4,396,000 after purchasing an additional 22,622 shares during the last quarter. Amundi boosted its position in shares of MakeMyTrip by 16.6% during the first quarter. Amundi now owns 640,932 shares of the technology company's stock worth $23,900,000 after buying an additional 91,388 shares during the period. EverSource Wealth Advisors LLC grew its holdings in MakeMyTrip by 74.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company's stock worth $37,000 after buying an additional 422 shares in the last quarter. Royal Bank of Canada grew its holdings in MakeMyTrip by 53.8% in the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company's stock worth $130,464,000 after buying an additional 1,223,963 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in MakeMyTrip in the 1st quarter valued at approximately $417,000. Institutional investors and hedge funds own 51.89% of the company's stock.

Wall Street Analysts Forecast Growth

MMYT has been the topic of several recent analyst reports. Wall Street Zen raised MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Zacks Research cut MakeMyTrip from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 18th. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a report on Saturday, June 27th. Citigroup restated a "buy" rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Finally, HSBC began coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They issued a "buy" rating and a $70.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, MakeMyTrip currently has an average rating of "Moderate Buy" and an average price target of $86.75.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $60.33 on Tuesday. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $103.56. The firm has a market capitalization of $5.67 billion, a PE ratio of 502.75 and a beta of 0.98. The company's 50 day simple moving average is $55.84 and its 200 day simple moving average is $50.15.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company's offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India's leading travel technology firms.

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