MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 25.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 270,143 shares of the technology company’s stock after selling 93,017 shares during the period. Acadian Asset Management LLC owned approximately 0.25% of MakeMyTrip worth $19,188,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of MakeMyTrip by 478.2% during the 4th quarter. SG Americas Securities LLC now owns 51,682 shares of the technology company’s stock valued at $2,428,000 after buying an additional 42,744 shares during the period. CoreCap Advisors LLC acquired a new position in MakeMyTrip during the 4th quarter worth about $298,000. Raymond James & Associates purchased a new position in MakeMyTrip during the 4th quarter valued at about $733,000. Blue Trust Inc. grew its position in MakeMyTrip by 12.3% in the 4th quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock valued at $331,000 after acquiring an additional 774 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in MakeMyTrip by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,284,324 shares of the technology company’s stock worth $107,318,000 after purchasing an additional 10,099 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MMYT. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Bank of America upped their price objective on MakeMyTrip from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $66.67.

MakeMyTrip Price Performance

Shares of MMYT stock traded up $0.53 during midday trading on Monday, reaching $89.51. 562,178 shares of the company traded hands, compared to its average volume of 767,917. The firm’s 50 day simple moving average is $82.42 and its two-hundred day simple moving average is $68.59. The firm has a market cap of $9.83 billion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 7.04 and a beta of 1.30. MakeMyTrip Limited has a 1-year low of $28.13 and a 1-year high of $93.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, May 15th. The technology company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. MakeMyTrip had a return on equity of 10.66% and a net margin of 27.70%. The firm had revenue of $202.89 million for the quarter, compared to analysts’ expectations of $195.15 million. On average, equities research analysts expect that MakeMyTrip Limited will post 0.96 EPS for the current fiscal year.

About MakeMyTrip

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.