MakeMyTrip Limited $MMYT Shares Sold by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in MakeMyTrip Limited by 27.7%, now holding 7,623 shares valued at $747,000 as of the latest reporting period.
• Equities analysts have mixed ratings on MakeMyTrip, with Macquarie upgrading it to "outperform" with a target price of $110.00, while Citigroup lowered its target from $125.00 to $120.00.
• The current market capitalization of MakeMyTrip is $11.30 billion, with shares trading around $101.52, showing a significant range over the past year between $81.84 and $123.00.

Northwest & Ethical Investments L.P. cut its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 27.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,623 shares of the technology company's stock after selling 2,923 shares during the period. Northwest & Ethical Investments L.P.'s holdings in MakeMyTrip were worth $747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMYT. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MakeMyTrip by 9,724.0% during the 1st 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 last quarter. Baillie Gifford & Co. lifted its position 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 purchasing an additional 1,471,660 shares during the last quarter. GQG Partners LLC boosted its stake in shares of MakeMyTrip by 273.2% during the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company's stock valued at $196,911,000 after purchasing an additional 1,470,985 shares during the period. Ninety One UK Ltd grew its holdings in shares of MakeMyTrip by 1,586.6% in the first quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock worth $75,732,000 after purchasing an additional 727,030 shares during the last quarter. Finally, Ninety One North America Inc. purchased a new position in MakeMyTrip in the 1st quarter worth about $18,737,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Up 2.3%

Shares of MMYT traded up $2.35 during midday trading on Friday, hitting $103.21. 613,692 shares of the company's stock traded hands, compared to its average volume of 892,828. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The firm's fifty day moving average is $96.12 and its 200-day moving average 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. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of 120.01 and a beta of 0.86.

Analysts Set New Price Targets

MMYT has been the subject of several research reports. Wall Street Zen cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Citigroup cut their price target on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $120.00.

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.