MakeMyTrip Limited $MMYT Stake Decreased by Palisades Investment Partners LLC

Key Points

• Palisades Investment Partners LLC reduced its stake in MakeMyTrip Limited by 9.5% during the second quarter, holding 116,723 shares worth about $11.44 million.
• Various institutional investors have made changes to their positions in MakeMyTrip, with ownership by institutional investors now at 51.89%.
• Analysts have generally rated MakeMyTrip favorably, with an average price target of $120.00 and several upgrades from research firms.

Palisades Investment Partners LLC lowered its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,723 shares of the technology company's stock after selling 12,269 shares during the quarter. MakeMyTrip comprises about 5.0% of Palisades Investment Partners LLC's portfolio, making the stock its 4th largest position. Palisades Investment Partners LLC owned 0.10% of MakeMyTrip worth $11,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MMYT. WPG Advisers LLC purchased a new stake in shares of MakeMyTrip in the first quarter valued at $28,000. Twin Tree Management LP purchased a new position in MakeMyTrip in the 1st quarter worth about $29,000. Stone House Investment Management LLC purchased a new position in MakeMyTrip in the 1st quarter worth about $49,000. Farther Finance Advisors LLC purchased a new position in MakeMyTrip in the 2nd quarter worth about $50,000. Finally, Parallel Advisors LLC increased its stake in MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after buying an additional 477 shares during the period. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Trading Down 1.1%

NASDAQ MMYT opened at $94.67 on Friday. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 110.08 and a beta of 0.87. The company's 50-day simple moving average is $98.23 and its two-hundred day simple moving average is $99.15. MakeMyTrip Limited has a one year low of $81.84 and a one year high of $123.00.

Analyst Ratings Changes

Several research firms recently commented on MMYT. Macquarie raised shares of 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. Citigroup reduced their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MakeMyTrip currently has an average rating of "Buy" and an average price target of $120.00.

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.

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