MakeMyTrip Limited $MMYT Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 2.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,469 shares of the technology company’s stock after selling 164 shares during the period. Confluence Investment Management LLC’s holdings in MakeMyTrip were worth $536,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MMYT. Mirae Asset Global Investments Co. Ltd. increased its holdings in MakeMyTrip by 9,724.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company’s stock valued at $2,364,732,000 after purchasing an additional 23,886,735 shares in the last quarter. New Vernon Capital Holdings II LLC increased its holdings in MakeMyTrip by 9,699.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock valued at $503,992,000 after purchasing an additional 5,090,811 shares in the last quarter. Baillie Gifford & Co. increased its holdings in MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company’s stock valued at $505,158,000 after purchasing an additional 1,471,660 shares in the last quarter. GQG Partners LLC increased its holdings in MakeMyTrip by 273.2% in the 1st quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company’s stock valued at $196,911,000 after purchasing an additional 1,470,985 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings in MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company’s stock valued at $75,732,000 after purchasing an additional 727,030 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $97.81 on Monday. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a 50-day moving average of $97.38 and a two-hundred day moving average of $98.71. The stock has a market cap of $10.88 billion, a P/E ratio of 113.73 and a beta of 0.87. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00.

Analyst Ratings Changes

MMYT has been the subject of several recent research reports. Citigroup lowered their price target on MakeMyTrip from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Macquarie upgraded MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Tuesday, June 24th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $120.00.

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.