MakeMyTrip Limited $MMYT Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lessened its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 17.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 196,375 shares of the technology company’s stock after selling 42,883 shares during the quarter. USS Investment Management Ltd’s holdings in MakeMyTrip were worth $7,332,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Royal Bank of Canada lifted its position in MakeMyTrip by 780.3% during the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after buying an additional 2,016,281 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of MakeMyTrip in the fourth quarter worth $150,069,000. Norges Bank acquired a new stake in shares of MakeMyTrip in the fourth quarter worth $90,284,000. Wasatch Advisors LP raised its stake in shares of MakeMyTrip by 64.2% in the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock valued at $87,249,000 after acquiring an additional 914,402 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of MakeMyTrip by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after acquiring an additional 869,728 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $58.27 on Friday. The company’s fifty day moving average price is $46.39 and its two-hundred day moving average price is $55.03. The firm has a market capitalization of $6.48 billion, a P/E ratio of 233.08 and a beta of 0.98. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $104.99.

Analyst Upgrades and Downgrades

MMYT has been the subject of a number of research reports. HSBC started coverage on shares of MakeMyTrip in a research report on Thursday. They set a “buy” rating and a $70.00 price target for the company. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. The Goldman Sachs Group set a $84.00 target price on MakeMyTrip in a research report on Saturday, June 27th. Finally, Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.75.

About MakeMyTrip

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.