Clearbridge Investments LLC Decreases Stock Holdings in MakeMyTrip Limited $MMYT

Clearbridge Investments LLC lowered its position in MakeMyTrip Limited (NASDAQ:MMYT) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 292,031 shares of the technology company’s stock after selling 20,015 shares during the quarter. Clearbridge Investments LLC owned about 0.26% of MakeMyTrip worth $23,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of MakeMyTrip by 140.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after acquiring an additional 555,620 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of MakeMyTrip by 112.0% in 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 acquiring an additional 826,143 shares during the period. Hudson Bay Capital Management LP raised its stake in shares of MakeMyTrip by 107.7% in the third quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock valued at $7,582,000 after acquiring an additional 41,999 shares during the period. Capital World Investors raised its stake in shares of MakeMyTrip by 5.4% in the third quarter. Capital World Investors now owns 1,306,699 shares of the technology company’s stock valued at $122,307,000 after acquiring an additional 67,109 shares during the period. Finally, Coronation Fund Managers Ltd. raised 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 valued at $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.

MakeMyTrip Trading Down 1.6%

NASDAQ MMYT opened at $41.03 on Wednesday. The company’s 50-day moving average price is $44.36 and its 200-day moving average price is $58.00. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 38.85. The stock has a market cap of $4.56 billion, a PE ratio of 164.12 and a beta of 1.01. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $104.99.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $101.00.

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.