Polen Capital Management LLC Sells 33,631 Shares of MakeMyTrip Limited $MMYT

Polen Capital Management LLC trimmed its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 38.5% during the 4th quarter, Holdings Channel reports. The fund owned 53,658 shares of the technology company’s stock after selling 33,631 shares during the period. Polen Capital Management LLC’s holdings in MakeMyTrip were worth $4,406,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of MakeMyTrip by 140.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after buying an additional 555,620 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of MakeMyTrip by 112.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock valued at $128,426,000 after buying an additional 826,143 shares during the last quarter. Hudson Bay Capital Management LP lifted its position in shares of MakeMyTrip by 107.7% during the third quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock valued at $7,582,000 after buying an additional 41,999 shares during the last quarter. Capital World Investors lifted its position in shares of MakeMyTrip by 5.4% during the third quarter. Capital World Investors now owns 1,306,699 shares of the technology company’s stock valued at $122,307,000 after buying an additional 67,109 shares during the last quarter. Finally, Coronation Fund Managers Ltd. lifted its position in shares of MakeMyTrip by 233.0% during the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock valued at $80,980,000 after buying an additional 605,388 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MMYT. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, May 31st. The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Finally, Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MakeMyTrip currently has an average rating of “Moderate Buy” and an average target price of $101.00.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock opened at $41.74 on Friday. The firm has a market capitalization of $4.64 billion, a P/E ratio of 166.96 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. The company has a 50 day moving average price of $44.50 and a 200 day moving average price of $57.53. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $104.99.

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.