Confluence Investment Management LLC Decreases Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Confluence Investment Management LLC cut its holdings in MakeMyTrip Limited (NASDAQ:MMYTGet Rating) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,416 shares of the technology company’s stock after selling 584 shares during the quarter. Confluence Investment Management LLC’s holdings in MakeMyTrip were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Capital International Investors raised its stake in MakeMyTrip by 133.2% during the 4th quarter. Capital International Investors now owns 3,287,384 shares of the technology company’s stock valued at $91,093,000 after buying an additional 1,877,781 shares during the last quarter. Marshall Wace LLP boosted its holdings in MakeMyTrip by 6,434.4% in the 4th quarter. Marshall Wace LLP now owns 1,377,705 shares of the technology company’s stock worth $38,176,000 after buying an additional 1,356,621 shares during the period. Border to Coast Pensions Partnership Ltd bought a new position in MakeMyTrip in the 1st quarter worth $10,458,000. Brown Advisory Inc. boosted its holdings in MakeMyTrip by 17.3% in the 1st quarter. Brown Advisory Inc. now owns 3,407,263 shares of the technology company’s stock worth $91,431,000 after buying an additional 503,648 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in MakeMyTrip by 29.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,725,480 shares of the technology company’s stock worth $47,813,000 after buying an additional 391,895 shares during the period. 39.99% of the stock is owned by institutional investors.

MakeMyTrip Trading Down 2.9 %

Shares of MakeMyTrip stock opened at $32.27 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.09 and a quick ratio of 3.09. The firm has a fifty day moving average price of $31.40 and a 200 day moving average price of $27.61. MakeMyTrip Limited has a 1 year low of $20.06 and a 1 year high of $36.28. The stock has a market cap of $3.40 billion, a PE ratio of -115.25 and a beta of 1.27.

Wall Street Analyst Weigh In

MMYT has been the subject of several recent analyst reports. UBS Group raised shares of MakeMyTrip from a “sell” rating to a “buy” rating in a report on Monday, June 13th. Macquarie assumed coverage on shares of MakeMyTrip in a report on Tuesday, August 30th. They set an “outperform” rating and a $42.00 price objective for the company. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Friday, July 29th. JPMorgan Chase & Co. initiated coverage on shares of MakeMyTrip in a report on Wednesday. They set an “overweight” rating and a $44.00 price objective for the company. Finally, Bank of America upgraded shares of MakeMyTrip from a “neutral” rating to a “buy” rating and upped their target price for the company from $33.00 to $40.00 in a research report on Tuesday, August 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

MakeMyTrip Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for MakeMyTrip (NASDAQ:MMYT)

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