MakeMyTrip Limited $MMYT Stake Lowered by Ninety One UK Ltd

Ninety One UK Ltd decreased its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,624 shares of the technology company’s stock after selling 16,733 shares during the quarter. Ninety One UK Ltd’s holdings in MakeMyTrip were worth $7,817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MMYT. Wasatch Advisors LP lifted its holdings in MakeMyTrip by 5.7% in the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after buying an additional 133,723 shares during the period. Royal Bank of Canada boosted its stake in MakeMyTrip by 53.8% in the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock valued at $130,464,000 after acquiring an additional 1,223,963 shares during the last quarter. Man Group plc boosted its stake in MakeMyTrip by 60.6% in the fourth quarter. Man Group plc now owns 1,381,728 shares of the technology company’s stock valued at $113,468,000 after acquiring an additional 521,415 shares during the last quarter. Temasek Holdings Private Ltd acquired a new stake in MakeMyTrip during the 1st quarter worth $63,447,000. Finally, Coronation Fund Managers Ltd. grew its holdings in MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after acquiring an additional 280,923 shares during the period. 51.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MMYT. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Bank of America cut their price target on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research report on Saturday, June 27th. HSBC initiated coverage on MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Zacks Research cut MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.50.

MakeMyTrip Trading Up 7.2%

MakeMyTrip stock opened at $46.78 on Friday. The firm has a market capitalization of $4.40 billion, a P/E ratio of 30.73 and a beta of 1.07. The business has a 50-day moving average of $52.35 and a 200-day moving average of $49.80. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $92.09.

MakeMyTrip Profile

MakeMyTrip Limited is an online travel company that operates consumer travel platforms in India and other markets. Founded in 2000 by Deep Kalra, the company provides digital tools for researching, planning and booking travel through its websites and mobile applications.

Its services include airline and rail ticketing, hotel and accommodation reservations, holiday packages, bus tickets, car rentals and airport transfers. MakeMyTrip also offers travel-related services such as activities, travel insurance and other ancillary products, depending on the market and booking channel.

The company operates the MakeMyTrip and Goibibo brands, as well as the redBus intercity bus-ticketing platform.