Massachusetts Financial Services Co. MA Decreases Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Massachusetts Financial Services Co. MA cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 34.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,618 shares of the technology company's stock after selling 210,234 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.37% of MakeMyTrip worth $40,040,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MMYT. Mirae Asset Global Investments Co. Ltd. boosted its position in MakeMyTrip by 9,724.0% in the first 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 purchasing an additional 23,886,735 shares during the last quarter. Schroder Investment Management Group increased its stake in MakeMyTrip by 3.6% in the 4th quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company's stock worth $462,470,000 after acquiring an additional 141,507 shares during the last quarter. FMR LLC increased its stake in MakeMyTrip by 4.3% in the 4th quarter. FMR LLC now owns 3,793,574 shares of the technology company's stock worth $425,942,000 after acquiring an additional 158,101 shares during the last quarter. Franklin Resources Inc. increased its position in shares of MakeMyTrip by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 1,503,980 shares of the technology company's stock valued at $168,867,000 after purchasing an additional 13,157 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of MakeMyTrip by 17.4% during the 4th quarter. American Century Companies Inc. now owns 1,269,394 shares of the technology company's stock valued at $142,528,000 after purchasing an additional 188,234 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

Shares of MMYT stock traded up $1.61 during mid-day trading on Monday, reaching $97.70. The stock had a trading volume of 1,741,096 shares, compared to its average volume of 839,907. The firm has a market cap of $10.87 billion, a price-to-earnings ratio of 76.26 and a beta of 0.85. MakeMyTrip Limited has a 1-year low of $76.95 and a 1-year high of $123.00. The business's fifty day moving average is $98.41 and its 200-day moving average is $101.08. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Citigroup raised their price target on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a research note on Tuesday, June 24th.

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.