M&T Bank Corp Reduces Stake in MakeMyTrip Limited (NASDAQ:MMYT)

M&T Bank Corp reduced its position in MakeMyTrip Limited (NASDAQ:MMYT) by 28.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,115 shares of the technology company’s stock after selling 2,816 shares during the period. M&T Bank Corp’s holdings in MakeMyTrip were worth $697,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in shares of MakeMyTrip by 41.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company’s stock valued at $43,000 after purchasing an additional 111 shares during the period. Parallel Advisors LLC grew its position in shares of MakeMyTrip by 1,014.9% in the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company’s stock valued at $51,000 after purchasing an additional 477 shares during the period. Signaturefd LLC purchased a new stake in MakeMyTrip during the fourth quarter valued at about $74,000. Gen Wealth Partners Inc grew its position in MakeMyTrip by 29.5% during the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company’s stock valued at $81,000 after acquiring an additional 165 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in MakeMyTrip during the first quarter valued at about $107,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MMYT. Citigroup upped their target price on MakeMyTrip from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, Macquarie upgraded MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Tuesday, June 24th.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $93.01 on Wednesday. The stock has a fifty day moving average price of $98.83 and a two-hundred day moving average price of $101.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $10.35 billion, a P/E ratio of 112.06 and a beta of 0.85. MakeMyTrip Limited has a 1 year low of $76.95 and a 1 year high of $123.00.

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.