Fullerton Fund Management Co Ltd. decreased its holdings in MakeMyTrip Limited (NASDAQ:MMYT – Free Report) by 19.8% in the fourth quarter, Holdings Channel reports. The firm owned 546,681 shares of the technology company’s stock after selling 134,969 shares during the period. MakeMyTrip comprises about 2.0% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 17th largest position. Fullerton Fund Management Co Ltd.’s holdings in MakeMyTrip were worth $44,893,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Leonteq Securities AG acquired a new stake in MakeMyTrip during the 4th quarter worth about $29,000. Parallel Advisors LLC lifted its position in MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after acquiring an additional 284 shares during the period. Kestra Advisory Services LLC acquired a new stake in MakeMyTrip during the 4th quarter worth about $46,000. Stone House Investment Management LLC lifted its position in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after acquiring an additional 200 shares during the period. Finally, Rakuten Securities Inc. lifted its position in MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after acquiring an additional 590 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the company. Zacks Research cut MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, May 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.
MakeMyTrip Stock Performance
Shares of MMYT stock opened at $45.68 on Wednesday. The stock has a market cap of $5.08 billion, a PE ratio of 182.72 and a beta of 1.01. The business has a 50-day simple moving average of $44.84 and a 200-day simple moving average of $56.96. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $104.99.
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.
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