MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Dalton Investments Inc.

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. reduced its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,883 shares of the technology company's stock after selling 18,100 shares during the period. MakeMyTrip comprises approximately 13.1% of Dalton Investments Inc.'s holdings, making the stock its 3rd biggest position. Dalton Investments Inc. owned 0.23% of MakeMyTrip worth $24,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in MakeMyTrip by 1,014.9% during the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after purchasing an additional 477 shares during the period. Gen Wealth Partners Inc raised its position in shares of MakeMyTrip by 29.5% during the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after buying an additional 165 shares in the last quarter. Signaturefd LLC raised its position in shares of MakeMyTrip by 40.9% during the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock worth $91,000 after buying an additional 270 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of MakeMyTrip during the 1st quarter worth about $107,000. Finally, Rakuten Securities Inc. raised its position in shares of MakeMyTrip by 124.4% during the 1st quarter. Rakuten Securities Inc. now owns 2,035 shares of the technology company's stock worth $199,000 after buying an additional 1,128 shares in the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Trading Down 1.1%

Shares of MakeMyTrip stock opened at $94.54 on Monday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 109.93 and a beta of 0.86. 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 company has a 50-day simple moving average of $96.49 and a 200 day simple moving average of $99.92. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00.

Analysts Set New Price Targets

A number of analysts have commented on MMYT shares. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Tuesday, June 24th. Citigroup dropped their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

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.

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