MakeMyTrip Limited $MMYT Stock Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its MakeMyTrip position by 95.1% in the second quarter, selling 74,341 shares and retaining 3,803 shares valued at approximately $203,000.
• Institutional activity was mixed: Carrhae Capital, Carmignac Gestion, and Wasatch Advisors increased their holdings, while several other funds initiated positions. Hedge funds and institutional investors collectively own 51.89% of MakeMyTrip.
• MMYT opened at $46.87, below its 50-day moving average of $55.50, while analysts maintain a “Moderate Buy” consensus with an $86.75 price target; ratings include five Buys and two Holds.

Squarepoint Ops LLC trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 95.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,803 shares of the technology company's stock after selling 74,341 shares during the period. Squarepoint Ops LLC's holdings in MakeMyTrip were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carrhae Capital LLP raised its holdings in shares of MakeMyTrip by 47.0% in the second quarter. Carrhae Capital LLP now owns 221,385 shares of the technology company's stock worth $11,798,000 after buying an additional 70,823 shares during the period. Carmignac Gestion boosted its holdings in MakeMyTrip by 32.9% during the 2nd quarter. Carmignac Gestion now owns 40,452 shares of the technology company's stock valued at $2,156,000 after acquiring an additional 10,024 shares during the period. Public Employees Retirement System of Ohio purchased a new position in MakeMyTrip during the 2nd quarter valued at $1,704,000. Flossbach Von Storch SE bought a new position in MakeMyTrip in the 2nd quarter valued at $2,664,000. Finally, Wasatch Advisors LP grew its position in MakeMyTrip by 5.7% in the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company's stock valued at $131,811,000 after acquiring an additional 133,723 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $46.87 on Friday. The company has a market cap of $4.41 billion, a PE ratio of 390.58 and a beta of 1.00. The firm's 50 day moving average price is $55.50 and its 200-day moving average price is $49.59. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $98.07.

Analyst Ratings Changes

Several analysts have recently weighed in on MMYT shares. Zacks Research downgraded MakeMyTrip from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. HSBC started coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They issued a "buy" rating and a $70.00 price target on the stock. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Finally, The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a report on Saturday, June 27th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company serving consumers in India and enabling domestic and international travel bookings. Through its digital platforms and mobile applications, the company offers air tickets, hotel and accommodation reservations, holiday packages, bus tickets, rail tickets, and car-rental and travel-related services.

MakeMyTrip operates a portfolio of recognized travel brands, including MakeMyTrip, goibibo, and redBus. The platforms allow customers to compare and book travel products, while also providing travel suppliers with distribution and customer-acquisition services.

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