Bank Pictet & Cie Europe AG Lowers Stake in MakeMyTrip Limited (NASDAQ:MMYT)

Bank Pictet & Cie Europe AG reduced its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 14.3% during the 1st quarter, HoldingsChannel reports. The fund owned 6,409 shares of the technology company’s stock after selling 1,067 shares during the period. Bank Pictet & Cie Europe AG’s holdings in MakeMyTrip were worth $628,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in shares of MakeMyTrip by 41.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company’s stock worth $43,000 after acquiring an additional 111 shares in the last quarter. Parallel Advisors LLC lifted its stake in MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company’s stock valued at $51,000 after buying an additional 477 shares in the last quarter. Signaturefd LLC purchased a new position in MakeMyTrip in the 4th quarter valued at about $74,000. Gen Wealth Partners Inc lifted its stake in MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company’s stock valued at $81,000 after buying an additional 165 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in MakeMyTrip in the 4th quarter valued at about $125,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MMYT shares. Citigroup raised their price target on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th.

MakeMyTrip Trading Up 2.2%

Shares of MakeMyTrip stock opened at $100.88 on Tuesday. The firm has a market capitalization of $11.07 billion, a PE ratio of 54.83, a P/E/G ratio of 6.56 and a beta of 0.88. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a twelve month low of $76.80 and a twelve month high of $123.00. The firm’s 50-day moving average price is $102.79 and its 200 day moving average price is $104.62.

About MakeMyTrip

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.