MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 37.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,006 shares of the technology company's stock after selling 16,481 shares during the quarter. Fred Alger Management LLC's holdings in MakeMyTrip were worth $3,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MMYT. Norges Bank acquired a new position in shares of MakeMyTrip in the 4th quarter valued at $97,833,000. GQG Partners LLC purchased a new stake in MakeMyTrip in the 4th quarter valued at about $60,465,000. Martin Currie Ltd. acquired a new position in MakeMyTrip in the fourth quarter valued at about $45,966,000. Bank of New York Mellon Corp boosted its stake in MakeMyTrip by 939.1% during the fourth quarter. Bank of New York Mellon Corp now owns 329,173 shares of the technology company's stock worth $36,959,000 after buying an additional 297,493 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in shares of MakeMyTrip during the fourth quarter valued at about $28,241,000. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Trading Up 2.8%

Shares of MMYT stock traded up $2.86 on Tuesday, hitting $106.59. The stock had a trading volume of 1,070,981 shares, compared to its average volume of 727,960. The company's 50 day moving average price is $99.81 and its 200-day moving average price is $105.31. MakeMyTrip Limited has a 1 year low of $72.55 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The firm has a market capitalization of $11.70 billion, a P/E ratio of 57.93, a P/E/G ratio of 6.56 and a beta of 0.92.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Friday, January 24th.

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.