MakeMyTrip Limited $MMYT Stock Position Lowered by Martin Currie Ltd.

Key Points

• Martin Currie Ltd. reduced its holdings in MakeMyTrip Limited by 14.6% in the first quarter, owning 349,509 shares valued at approximately $34.25 million, which represents 1.4% of its total investments.
• MakeMyTrip's stock has seen analysts give mixed ratings, with Macquarie upgrading it to "outperform" with a target of $110.00, while Wall Street Zen downgraded their rating to "sell."
• The company operates through three main segments: Air Ticketing, Hotels and Packages, and Bus Ticketing, and currently holds a market cap of $10.49 billion.

Martin Currie Ltd. decreased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 349,509 shares of the technology company's stock after selling 59,880 shares during the period. MakeMyTrip accounts for 1.4% of Martin Currie Ltd.'s portfolio, making the stock its 24th largest position. Martin Currie Ltd. owned about 0.32% of MakeMyTrip worth $34,248,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its stake in shares of MakeMyTrip by 3.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,419 shares of the technology company's stock valued at $496,000 after buying an additional 142 shares in the last quarter. Gen Wealth Partners Inc grew its stake 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 position 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 worth $454,000 after acquiring an additional 241 shares during the last quarter. Signaturefd LLC lifted its stake in shares of MakeMyTrip by 40.9% in the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock worth $91,000 after acquiring an additional 270 shares in the last quarter. Finally, Haven Private LLC boosted its holdings in MakeMyTrip by 3.4% in the first quarter. Haven Private LLC now owns 8,776 shares of the technology company's stock valued at $860,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MMYT shares. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Tuesday, June 24th. Citigroup cut their price target 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 note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Stock Performance

NASDAQ MMYT traded up $2.05 on Tuesday, hitting $101.52. The stock had a trading volume of 859,447 shares, compared to its average volume of 1,039,121. The company's 50-day moving average is $95.90 and its two-hundred day moving average is $99.42. MakeMyTrip Limited has a one year low of $81.84 and a one year high of $123.00. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 118.05 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.

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.