Ninety One UK Ltd Sells 700,565 Shares of MakeMyTrip Limited $MMYT

Ninety One UK Ltd trimmed its position in MakeMyTrip Limited (NASDAQ:MMYT) by 89.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,494 shares of the technology company’s stock after selling 700,565 shares during the period. Ninety One UK Ltd owned approximately 0.07% of MakeMyTrip worth $7,721,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Schroder Investment Management Group boosted its position in MakeMyTrip by 42.4% in the 2nd quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after purchasing an additional 1,674,538 shares in the last quarter. New Vernon Capital Holdings II LLC increased its holdings in shares of MakeMyTrip by 9,699.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock worth $503,992,000 after buying an additional 5,090,811 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in MakeMyTrip by 12.5% in the second quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock valued at $207,316,000 after buying an additional 234,670 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of MakeMyTrip by 30.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock valued at $200,235,000 after buying an additional 471,274 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of MakeMyTrip by 38.0% in the second quarter. Jennison Associates LLC now owns 1,849,767 shares of the technology company’s stock worth $181,314,000 after acquiring an additional 509,638 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the subject of a number of research analyst reports. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Bank of America reduced their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Weiss Ratings began coverage on MakeMyTrip in a research note on Thursday, October 30th. They set a “hold (c)” rating on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

MakeMyTrip Price Performance

Shares of MMYT opened at $82.12 on Friday. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 128.31 and a beta of 0.65. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.91 and a current ratio of 1.91. MakeMyTrip Limited has a one year low of $69.69 and a one year high of $122.35. The stock’s fifty day moving average is $78.55 and its 200-day moving average is $89.96.

About MakeMyTrip

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.