HighTower Advisors LLC Trims Stock Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

HighTower Advisors LLC decreased its holdings in MakeMyTrip Limited (NASDAQ:MMYT – Get Rating) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,126 shares of the technology company’s stock after selling 3,387 shares during the period. HighTower Advisors LLC’s holdings in MakeMyTrip were worth $2,594,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MMYT. Belpointe Asset Management LLC purchased a new position in shares of MakeMyTrip in the fourth quarter worth about $55,000. SG Americas Securities LLC bought a new position in shares of MakeMyTrip in the third quarter valued at approximately $126,000. Tower Research Capital LLC TRC boosted its position in shares of MakeMyTrip by 139.5% in the third quarter. Tower Research Capital LLC TRC now owns 5,861 shares of the technology company’s stock valued at $180,000 after acquiring an additional 3,414 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of MakeMyTrip by 22.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,207 shares of the technology company’s stock valued at $199,000 after acquiring an additional 1,307 shares during the period. Finally, BNP Paribas Arbitrage SNC boosted its position in shares of MakeMyTrip by 58.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 6,488 shares of the technology company’s stock valued at $199,000 after acquiring an additional 2,382 shares during the period. Hedge funds and other institutional investors own 40.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of MakeMyTrip in a research report on Thursday, May 18th. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

MakeMyTrip Trading Up 2.0 %

Shares of MakeMyTrip stock opened at $26.55 on Tuesday. MakeMyTrip Limited has a 1 year low of $22.50 and a 1 year high of $34.68. The firm has a market cap of $2.79 billion, a PE ratio of -265.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.48 and a quick ratio of 2.78. The company has a 50 day simple moving average of $24.49 and a two-hundred day simple moving average of $26.67.

About MakeMyTrip

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MakeMyTrip Ltd. is an online travel company. Its services and products include air ticketing, hotels and packages, rail tickets, bus tickets, car hire, experiences and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing. The company’s brands include MakeMyTrip, goibibo, and redbus.