MakeMyTrip Limited $MMYT Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in MakeMyTrip Limited by 99%, owning only 0.22% of the company after selling approximately 23.9 million shares.
• Several institutional investors have recently adjusted their stakes in MakeMyTrip, with large increases from groups like Ninety One North America Inc. and Bank Pictet & Cie Europe AG.
• Analysts have mixed ratings for MakeMyTrip, with Wall Street Zen downgrading the stock to "sell," while Macquarie upgraded it to "outperform" with a target price of $110.

Mirae Asset Global Investments Co. Ltd. decreased its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 99.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 242,607 shares of the technology company's stock after selling 23,889,774 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.22% of MakeMyTrip worth $23,780,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. J. Safra Sarasin Holding AG acquired a new stake in MakeMyTrip in the second quarter valued at $661,000. Ninety One North America Inc. boosted its stake in shares of MakeMyTrip by 6.1% during the second quarter. Ninety One North America Inc. now owns 202,881 shares of the technology company's stock valued at $19,886,000 after acquiring an additional 11,672 shares during the last quarter. Ninety One UK Ltd boosted its stake in shares of MakeMyTrip by 1.3% during the second quarter. Ninety One UK Ltd now owns 783,059 shares of the technology company's stock valued at $76,755,000 after acquiring an additional 10,206 shares during the last quarter. Signaturefd LLC boosted its stake in shares of MakeMyTrip by 23.3% during the second quarter. Signaturefd LLC now owns 1,147 shares of the technology company's stock valued at $112,000 after acquiring an additional 217 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in shares of MakeMyTrip by 51.9% during the second quarter. Bank Pictet & Cie Europe AG now owns 9,738 shares of the technology company's stock valued at $955,000 after acquiring an additional 3,329 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen lowered MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Friday. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 24th. Finally, Citigroup decreased their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, MakeMyTrip currently has an average rating of "Buy" and an average target price of $120.00.

MakeMyTrip Stock Up 0.1%

Shares of NASDAQ:MMYT opened at $94.45 on Friday. The stock's 50-day moving average price is $97.52 and its two-hundred day moving average price is $99.09. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 109.83 and a beta of 0.81.

MakeMyTrip Company 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.

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