U S Global Investors Inc. Sells 16,678 Shares of MakeMyTrip Limited $MMYT

U S Global Investors Inc. trimmed its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,701 shares of the technology company’s stock after selling 16,678 shares during the period. U S Global Investors Inc.’s holdings in MakeMyTrip were worth $3,903,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MMYT. Rockefeller Capital Management L.P. boosted its holdings in shares of MakeMyTrip by 416.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after buying an additional 546 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of MakeMyTrip by 74.3% in the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after acquiring an additional 422 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of MakeMyTrip by 26.6% in the third quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock worth $95,000 after acquiring an additional 422 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of MakeMyTrip during the second quarter valued at approximately $249,000. Finally, Inceptionr LLC raised its holdings in shares of MakeMyTrip by 101.3% during the first quarter. Inceptionr LLC now owns 10,058 shares of the technology company’s stock valued at $375,000 after acquiring an additional 5,061 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $45.34 on Friday. The company has a 50 day simple moving average of $50.82 and a 200-day simple moving average of $50.05. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 377.83 and a beta of 1.07. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $92.09.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMYT. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research report on Saturday, June 27th. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. HSBC assumed coverage on MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price for the company. Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Bank of America dropped their price target on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, September 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.50.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.