Matthews International Capital Management LLC Trims Position in MakeMyTrip Limited (NASDAQ:MMYT)

Matthews International Capital Management LLC cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 43.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,980 shares of the technology company's stock after selling 104,771 shares during the period. MakeMyTrip makes up 2.8% of Matthews International Capital Management LLC's portfolio, making the stock its 14th biggest position. Matthews International Capital Management LLC owned about 0.12% of MakeMyTrip worth $13,325,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its position in MakeMyTrip by 41.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company's stock worth $43,000 after purchasing an additional 111 shares during the period. OneDigital Investment Advisors LLC grew its position in MakeMyTrip by 3.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,419 shares of the technology company's stock worth $496,000 after purchasing an additional 142 shares during the period. Gen Wealth Partners Inc grew its position in MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after purchasing an additional 165 shares during the period. Csenge Advisory Group grew its position in MakeMyTrip by 11.3% in the 4th quarter. Csenge Advisory Group now owns 4,159 shares of the technology company's stock worth $467,000 after purchasing an additional 421 shares during the period. Finally, Parallel Advisors LLC grew its position in MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after purchasing an additional 477 shares during the period. 51.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MMYT has been the subject of a number of research analyst reports. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Citigroup lifted their price target on shares of MakeMyTrip from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th.

MakeMyTrip Stock Performance

MMYT traded down $2.78 during midday trading on Friday, reaching $91.65. The company had a trading volume of 3,051,921 shares, compared to its average volume of 788,633. The business has a 50-day moving average of $102.47 and a two-hundred day moving average of $104.06. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.01. MakeMyTrip Limited has a 1 year low of $76.95 and a 1 year high of $123.00. The company has a market cap of $10.20 billion, a P/E ratio of 110.42 and a beta of 0.88.

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.