Clearbridge Investments LLC Sells 20,015 Shares of MakeMyTrip Limited $MMYT

Clearbridge Investments LLC trimmed its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,031 shares of the technology company’s stock after selling 20,015 shares during the period. Clearbridge Investments LLC’s holdings in MakeMyTrip were worth $23,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in MakeMyTrip during the 4th quarter worth about $29,000. Parallel Advisors LLC boosted its holdings in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after buying an additional 284 shares in the last quarter. Stone House Investment Management LLC boosted its holdings in shares of MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after buying an additional 200 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of MakeMyTrip by 893.9% in the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after buying an additional 590 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of MakeMyTrip by 4,420.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after buying an additional 884 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Stock Down 1.6%

MMYT stock opened at $41.03 on Wednesday. The firm has a 50 day moving average of $44.36 and a 200 day moving average of $58.00. The stock has a market capitalization of $4.56 billion, a PE ratio of 164.12 and a beta of 1.01. 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MMYT shares. Zacks Research cut shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. The Goldman Sachs Group restated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.00.

MakeMyTrip Company 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.