Redwood Investments LLC Trims Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Redwood Investments LLC trimmed its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 47.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,185 shares of the technology company's stock after selling 19,668 shares during the period. Redwood Investments LLC's holdings in MakeMyTrip were worth $2,491,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Man Group plc acquired a new stake in MakeMyTrip in the 4th quarter valued at approximately $1,978,000. MayTech Global Investments LLC grew its stake in shares of MakeMyTrip by 3.5% in the fourth quarter. MayTech Global Investments LLC now owns 288,100 shares of the technology company's stock valued at $32,348,000 after buying an additional 9,658 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of MakeMyTrip by 38.8% in the fourth quarter. Lazard Asset Management LLC now owns 331,320 shares of the technology company's stock valued at $37,200,000 after buying an additional 92,561 shares in the last quarter. Gen Wealth Partners Inc raised its holdings in shares of MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after buying an additional 165 shares during the period. Finally, FACT Capital LP acquired a new position in MakeMyTrip during the 4th quarter worth about $3,389,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Down 1.6%

Shares of NASDAQ MMYT traded down $1.66 during mid-day trading on Tuesday, hitting $103.15. The company had a trading volume of 116,976 shares, compared to its average volume of 844,450. The company has a market capitalization of $11.32 billion, a PE ratio of 56.06, a price-to-earnings-growth ratio of 6.56 and a beta of 0.92. The business's 50-day simple moving average is $101.52 and its 200 day simple moving average is $105.42. 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMYT. StockNews.com raised MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Citigroup upped their target price 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 Company 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.