Prudential PLC Cuts Stock Position in MakeMyTrip Limited $MMYT

Prudential PLC trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 27.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,052 shares of the technology company’s stock after selling 12,861 shares during the quarter. Prudential PLC’s holdings in MakeMyTrip were worth $3,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMYT. Artisan Partners Limited Partnership raised its stake in shares of MakeMyTrip by 12.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock worth $207,316,000 after acquiring an additional 234,670 shares in the last quarter. Steadview Capital Management LLC grew its holdings in MakeMyTrip by 24.9% in the second quarter. Steadview Capital Management LLC now owns 198,600 shares of the technology company’s stock worth $19,467,000 after purchasing an additional 39,600 shares during the last quarter. Portside Wealth Group LLC acquired a new position in shares of MakeMyTrip during the second quarter worth $252,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of MakeMyTrip during the 2nd quarter valued at $30,005,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of MakeMyTrip in the 2nd quarter worth $655,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $74.26 on Friday. The business has a fifty day moving average of $87.44 and a 200 day moving average of $94.76. MakeMyTrip Limited has a 1 year low of $71.04 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 116.03 and a beta of 0.87.

Analyst Ratings Changes

MMYT has been the topic of several recent analyst reports. Weiss Ratings initiated coverage on MakeMyTrip in a research report on Thursday, October 30th. They set a “hold (c)” rating on the stock. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

MakeMyTrip Company Profile

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.