Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in MakeMyTrip Limited $MMYT

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 99.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 242,607 shares of the technology company’s stock after selling 23,889,774 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MakeMyTrip were worth $23,780,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. WPG Advisers LLC acquired a new stake in MakeMyTrip during the 1st quarter valued at approximately $28,000. Twin Tree Management LP acquired a new stake in MakeMyTrip during the 1st quarter valued at approximately $29,000. Stone House Investment Management LLC acquired a new stake in MakeMyTrip during the 1st quarter valued at approximately $49,000. Farther Finance Advisors LLC acquired a new stake in MakeMyTrip during the 2nd quarter valued at approximately $50,000. Finally, Parallel Advisors LLC grew its stake in MakeMyTrip by 1,014.9% during the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company’s stock valued at $51,000 after purchasing an additional 477 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MMYT shares. Citigroup lowered their price objective on MakeMyTrip from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Macquarie upgraded MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $120.00.

MakeMyTrip Price Performance

Shares of MMYT opened at $94.45 on Friday. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 109.83 and a beta of 0.81. The stock has a 50 day moving average of $97.52 and a 200-day moving average of $99.09. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00.

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.