MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by River & Mercantile Asset Management LLP

River & Mercantile Asset Management LLP cut its holdings in MakeMyTrip Limited (NASDAQ:MMYT – Get Rating) by 50.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,880 shares of the technology company’s stock after selling 62,847 shares during the period. River & Mercantile Asset Management LLP owned 0.06% of MakeMyTrip worth $1,899,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sei Investments Co. lifted its stake in MakeMyTrip by 10.0% during the first quarter. Sei Investments Co. now owns 14,511 shares of the technology company’s stock worth $402,000 after purchasing an additional 1,325 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in MakeMyTrip by 1.8% during the first quarter. Allianz Asset Management GmbH now owns 192,077 shares of the technology company’s stock worth $5,153,000 after purchasing an additional 3,454 shares in the last quarter. Northern Trust Corp acquired a new position in MakeMyTrip during the first quarter worth $624,000. Renaissance Technologies LLC acquired a new position in MakeMyTrip during the first quarter worth $360,000. Finally, UBS Group AG lifted its stake in MakeMyTrip by 709.2% during the first quarter. UBS Group AG now owns 71,754 shares of the technology company’s stock worth $1,926,000 after purchasing an additional 62,887 shares in the last quarter. 40.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMYT has been the topic of a number of research reports. StockNews.com initiated coverage on MakeMyTrip in a research note on Thursday. They set a “sell” rating on the stock. Morgan Stanley upgraded MakeMyTrip from an “equal weight” rating to an “overweight” rating and set a $36.00 price objective on the stock in a research note on Thursday, December 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, MakeMyTrip has an average rating of “Moderate Buy” and a consensus target price of $41.00.

MakeMyTrip Stock Down 1.2 %

Shares of NASDAQ MMYT opened at $24.68 on Thursday. The stock has a market cap of $2.60 billion, a P/E ratio of -129.89 and a beta of 1.21. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.26. MakeMyTrip Limited has a 12-month low of $21.36 and a 12-month high of $34.68. The business’s fifty day simple moving average is $27.10 and its 200-day simple moving average is $28.79.

About MakeMyTrip

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MakeMyTrip Ltd. is an online travel company. Its services and products include air ticketing, hotels and packages, rail tickets, bus tickets, car hire, experiences and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing. The company’s brands include MakeMyTrip, goibibo, and redbus.