Allianz Asset Management GmbH Sells 27,319 Shares of MakeMyTrip Limited $MMYT

Allianz Asset Management GmbH cut its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 364,289 shares of the technology company’s stock after selling 27,319 shares during the period. Allianz Asset Management GmbH’s holdings in MakeMyTrip were worth $35,708,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MMYT. Mirae Asset Global Investments Co. Ltd. raised its position in MakeMyTrip by 9,724.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company’s stock worth $2,364,732,000 after acquiring an additional 23,886,735 shares during the period. New Vernon Capital Holdings II LLC raised its position in shares of MakeMyTrip by 9,699.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock valued at $503,992,000 after purchasing an additional 5,090,811 shares during the period. Baillie Gifford & Co. raised its position in shares of MakeMyTrip by 40.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company’s stock valued at $505,158,000 after purchasing an additional 1,471,660 shares during the period. GQG Partners LLC raised its position in shares of MakeMyTrip by 273.2% during the 1st quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company’s stock valued at $196,911,000 after purchasing an additional 1,470,985 shares during the period. Finally, Ninety One UK Ltd raised its position in shares of MakeMyTrip by 1,586.6% during the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company’s stock valued at $75,732,000 after purchasing an additional 727,030 shares during the period. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $89.02 on Friday. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00. The stock has a market capitalization of $9.90 billion, a P/E ratio of 103.51 and a beta of 0.81. The firm has a fifty day simple moving average of $96.94 and a two-hundred day simple moving average of $98.31. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35.

Analyst Upgrades and Downgrades

MMYT has been the topic of several recent analyst reports. Macquarie upgraded shares of MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Tuesday, June 24th. Citigroup decreased their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $120.00.

MakeMyTrip Profile

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.