MakeMyTrip Limited $MMYT Shares Sold by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC has reduced its stake in MakeMyTrip Limited by 10.7%, holding 75,621 shares worth approximately $7.41 million after selling 9,040 shares in the first quarter.
• In contrast, Mirae Asset Global Investments significantly increased its position by 9,724.0%, acquiring over 23 million shares, making it the largest shareholder.
• Wall Street analysts have mixed ratings for MakeMyTrip, with a consensus rating of "Buy" and a current average price target of $120.00, despite some analysts lowering their price estimates recently.

Causeway Capital Management LLC cut its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,621 shares of the technology company's stock after selling 9,040 shares during the quarter. Causeway Capital Management LLC owned approximately 0.07% of MakeMyTrip worth $7,410,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of MakeMyTrip during the first quarter worth approximately $49,000. Parallel Advisors LLC increased its position in MakeMyTrip by 1,014.9% during the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after purchasing an additional 477 shares during the period. Gen Wealth Partners Inc increased its position in MakeMyTrip by 29.5% during the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after purchasing an additional 165 shares during the period. Signaturefd LLC increased its position in MakeMyTrip by 40.9% during the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after purchasing an additional 270 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in MakeMyTrip during the 1st quarter valued at about $107,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MMYT. Macquarie raised 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. Citigroup cut their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Stock Performance

MMYT stock traded down $1.70 during trading on Friday, reaching $98.75. The company had a trading volume of 538,700 shares, compared to its average volume of 704,978. The firm has a 50-day simple moving average of $96.81 and a 200-day simple moving average of $98.78. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 114.83 and a beta of 0.86. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. MakeMyTrip Limited has a twelve month low of $81.84 and a twelve month high of $123.00.

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.