M&T Bank Corp Sells 2,816 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

M&T Bank Corp lowered its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 28.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,115 shares of the technology company's stock after selling 2,816 shares during the quarter. M&T Bank Corp's holdings in MakeMyTrip were worth $697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its position in shares of MakeMyTrip by 41.4% during the fourth 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 in the last quarter. Parallel Advisors LLC lifted its position in shares of MakeMyTrip by 1,014.9% during the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after purchasing an additional 477 shares in the last quarter. Signaturefd LLC acquired a new position in MakeMyTrip during the 4th quarter valued at about $74,000. Gen Wealth Partners Inc lifted its position in MakeMyTrip by 29.5% during the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after purchasing an additional 165 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in MakeMyTrip during the 1st quarter valued at about $107,000. Institutional investors own 51.89% of the company's stock.

Analyst Upgrades and Downgrades

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

MakeMyTrip Stock Performance

MakeMyTrip stock traded up $0.62 during mid-day trading on Friday, hitting $96.09. 1,216,876 shares of the company's stock traded hands, compared to its average volume of 836,491. The firm has a 50 day simple moving average of $98.41 and a two-hundred day simple moving average of $101.26. MakeMyTrip Limited has a fifty-two week low of $76.95 and a fifty-two week high of $123.00. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 115.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.85 and a quick ratio of 1.85.

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.