Fullerton Fund Management Co Ltd. Trims Stake in MakeMyTrip Limited $MMYT

Fullerton Fund Management Co Ltd. reduced its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 19.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 546,681 shares of the technology company’s stock after selling 134,969 shares during the quarter. MakeMyTrip comprises about 2.0% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 17th biggest position. Fullerton Fund Management Co Ltd. owned 0.49% of MakeMyTrip worth $44,893,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group increased its holdings in MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after purchasing an additional 869,728 shares during the period. Baillie Gifford & Co. increased its holdings in shares of MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after acquiring an additional 114,975 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of MakeMyTrip by 7.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,281,492 shares of the technology company’s stock valued at $213,548,000 after acquiring an additional 166,456 shares during the period. Royal Bank of Canada increased its holdings in shares of MakeMyTrip by 780.3% in the 4th quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after acquiring an additional 2,016,281 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of MakeMyTrip by 11.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,935,142 shares of the technology company’s stock valued at $158,914,000 after acquiring an additional 199,699 shares during the period. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Stock Up 0.5%

MakeMyTrip stock opened at $45.68 on Wednesday. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 182.72 and a beta of 1.01. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99. The business has a fifty day moving average price of $44.84 and a 200-day moving average price of $56.96.

Analyst Upgrades and Downgrades

MMYT has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.00.

MakeMyTrip 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.