MakeMyTrip Limited $MMYT Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in MakeMyTrip Limited by 54.7%, now owning around 167,681 shares worth approximately $16.6 million.
• Other institutional investors, including Parallel Advisors LLC and Signaturefd LLC, significantly increased their holdings in MakeMyTrip during the first quarter.
• Brokerage firms have varied opinions on MakeMyTrip, with Citigroup lowering its target price while Macquarie upgraded the stock rating.

Russell Investments Group Ltd. lowered its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 54.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,681 shares of the technology company's stock after selling 202,493 shares during the period. Russell Investments Group Ltd. owned about 0.15% of MakeMyTrip worth $16,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MakeMyTrip by 9,724.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock valued at $2,364,732,000 after acquiring an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. lifted its position in MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after acquiring an additional 1,471,660 shares in the last quarter. Ninety One UK Ltd lifted its position in MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock valued at $75,732,000 after acquiring an additional 727,030 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in MakeMyTrip by 13.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 717,751 shares of the technology company's stock valued at $80,589,000 after acquiring an additional 85,689 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of MakeMyTrip by 13.1% in the first quarter. Invesco Ltd. now owns 409,482 shares of the technology company's stock worth $40,125,000 after acquiring an additional 47,426 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Up 3.0%

MakeMyTrip stock traded up $3.0330 during midday trading on Friday, hitting $103.8930. 193,878 shares of the company's stock were exchanged, compared to its average volume of 1,030,291. The company has a market cap of $11.56 billion, a PE ratio of 120.99 and a beta of 0.86. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. MakeMyTrip Limited has a 12 month low of $81.84 and a 12 month high of $123.00. The firm has a 50-day moving average of $96.03 and a two-hundred day moving average of $99.34.

Analysts Set New Price Targets

MMYT has been the topic of a number of recent analyst reports. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Tuesday, June 24th. Citigroup reduced 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 MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $120.00.

About MakeMyTrip

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.