Ninety One UK Ltd Sells 16,733 Shares of MakeMyTrip Limited $MMYT

by · The Cerbat Gem

Ninety One UK Ltd cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT – Free Report) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,624 shares of the technology company’s stock after selling 16,733 shares during the period. Ninety One UK Ltd owned about 0.18% of MakeMyTrip worth $7,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd acquired a new stake in shares of MakeMyTrip in the first quarter valued at $63,447,000. Hsbc Holdings PLC bought a new position in shares of MakeMyTrip in the fourth quarter valued at about $4,512,000. Sei Investments Co. lifted its position in MakeMyTrip by 17.5% during the 1st quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock worth $24,349,000 after buying an additional 97,377 shares in the last quarter. Flossbach Von Storch SE acquired a new position in MakeMyTrip during the 2nd quarter worth about $2,664,000. Finally, Coronation Fund Managers Ltd. lifted its position 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 buying an additional 280,923 shares in the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Stock Up 7.2%

MMYT stock opened at $46.78 on Friday. The company has a market cap of $4.40 billion, a P/E ratio of 30.73 and a beta of 1.07. MakeMyTrip Limited has a twelve month low of $32.67 and a twelve month high of $92.09. The business has a fifty day moving average of $52.35 and a 200-day moving average of $49.80.

Analysts Set New Price Targets

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

View Our Latest Report on MMYT

MakeMyTrip Company Profile

(Free Report)

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.

See Also

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