Dalton Investments Inc. Reduces Position in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• Dalton Investments Inc. reduced its stake in MakeMyTrip Limited by 6.8%, now owning approximately 248,883 shares valued at $24.4 million.
• Analysts have mixed opinions on MakeMyTrip stock, with Macquarie upgrading it to an "outperform" rating and a $110 price target, while Wall Street Zen downgraded it to a "sell" rating.
• The stock is currently trading down 1.1%, with a market capitalization of $10.52 billion and a price-to-earnings ratio of 109.93.

Dalton Investments Inc. lessened its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,883 shares of the technology company's stock after selling 18,100 shares during the period. MakeMyTrip comprises 13.1% of Dalton Investments Inc.'s holdings, making the stock its 3rd biggest holding. Dalton Investments Inc. owned approximately 0.23% of MakeMyTrip worth $24,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC increased its holdings in shares of MakeMyTrip by 3.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,419 shares of the technology company's stock valued at $496,000 after acquiring an additional 142 shares in the last quarter. Gen Wealth Partners Inc increased its holdings in shares of MakeMyTrip by 29.5% during the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after acquiring an additional 165 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of MakeMyTrip by 5.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,638 shares of the technology company's stock valued at $454,000 after acquiring an additional 241 shares in the last quarter. Signaturefd LLC increased its holdings in shares of MakeMyTrip by 40.9% during the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after acquiring an additional 270 shares in the last quarter. Finally, Haven Private LLC increased its holdings in shares of MakeMyTrip by 3.4% during the first quarter. Haven Private LLC now owns 8,776 shares of the technology company's stock valued at $860,000 after acquiring an additional 286 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

Analysts Set New Price Targets

MMYT has been the subject of several recent research reports. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Tuesday, June 24th. Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Citigroup cut their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded up $5.47 during trading on Friday, hitting $99.80. 766,688 shares of the stock traded hands, compared to its average volume of 1,040,127. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 116.08 and a beta of 0.86. The firm's fifty day moving average is $95.94 and its 200-day moving average is $99.69. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00.

MakeMyTrip 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.