Capital International Investors Sells 162,227 Shares of MakeMyTrip Limited $MMYT

Capital International Investors trimmed its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,555,556 shares of the technology company’s stock after selling 162,227 shares during the quarter. Capital International Investors owned 1.40% of MakeMyTrip worth $127,742,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MMYT. Norges Bank purchased a new position in shares of MakeMyTrip in the fourth quarter worth $90,284,000. Massachusetts Financial Services Co. MA grew its holdings in MakeMyTrip by 112.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock valued at $128,426,000 after purchasing an additional 826,143 shares during the period. Schroder Investment Management Group grew its holdings in MakeMyTrip by 12.2% during the third quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company’s stock valued at $591,269,000 after purchasing an additional 688,957 shares during the period. Man Group plc grew its holdings in MakeMyTrip by 6,434.6% during the second quarter. Man Group plc now owns 632,747 shares of the technology company’s stock valued at $62,022,000 after purchasing an additional 623,064 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of MakeMyTrip by 233.0% in the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock worth $80,980,000 after acquiring an additional 605,388 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MMYT. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

MakeMyTrip Stock Down 5.4%

MakeMyTrip stock opened at $41.70 on Tuesday. The business has a fifty day moving average price of $44.27 and a 200-day moving average price of $58.23. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 166.80 and a beta of 1.01.

MakeMyTrip Profile

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.