Matthews International Capital Management LLC Sells 53,650 Shares of MakeMyTrip Limited $MMYT

Key Points

• Matthews International cut its stake in MakeMyTrip by 29.8% in Q4, selling 53,650 shares and retaining 126,471 shares (about $10.39M), which represents roughly 3.2% of the firm’s portfolio and is its 13th largest holding.
• Several other institutional investors materially increased positions—Massachusetts Financial Services (+112%), Schroder, Man Group, Coronation and Allspring all added large blocks—leaving institutional ownership at about 51.89%.
• Analyst views are mixed but tilted positive overall: the consensus rating is "Moderate Buy" with a consensus price target of $101.00, although some firms have lowered targets or downgraded the stock (e.g., Citigroup to $80; Wall Street Zen to "sell").

Matthews International Capital Management LLC reduced its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 29.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,471 shares of the technology company's stock after selling 53,650 shares during the quarter. MakeMyTrip accounts for about 3.2% of Matthews International Capital Management LLC's investment portfolio, making the stock its 13th largest position. Matthews International Capital Management LLC owned 0.11% of MakeMyTrip worth $10,386,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MMYT. Massachusetts Financial Services Co. MA increased its stake in MakeMyTrip by 112.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company's stock worth $128,426,000 after acquiring an additional 826,143 shares during the last quarter. Schroder Investment Management Group increased its stake in MakeMyTrip by 12.2% in the 3rd quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company's stock worth $591,269,000 after acquiring an additional 688,957 shares during the last quarter. Man Group plc increased its stake in MakeMyTrip by 6,434.6% in the 2nd quarter. Man Group plc now owns 632,747 shares of the technology company's stock worth $62,022,000 after acquiring an additional 623,064 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in shares of MakeMyTrip by 233.0% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company's stock valued at $80,980,000 after purchasing an additional 605,388 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of MakeMyTrip by 140.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company's stock valued at $77,994,000 after purchasing an additional 555,620 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen lowered MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Citigroup reduced their price objective on MakeMyTrip from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, MakeMyTrip presently has an average rating of "Moderate Buy" and a consensus price target of $101.00.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock opened at $46.02 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a market capitalization of $5.12 billion, a PE ratio of 95.88, a price-to-earnings-growth ratio of 1.86 and a beta of 0.83. The business's 50-day moving average price is $46.80 and its 200-day moving average price is $66.42. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $113.85.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. Sell-side analysts forecast that MakeMyTrip Limited will post 1.22 EPS for the current fiscal year.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company's offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India's leading travel technology firms.

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