Krane Funds Advisors LLC Cuts Stake in MakeMyTrip Limited (MMYT)

Krane Funds Advisors LLC decreased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 11.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,051 shares of the technology company’s stock after selling 940 shares during the quarter. Krane Funds Advisors LLC’s holdings in MakeMyTrip were worth $195,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in MakeMyTrip by 1.2% in the 1st quarter. Baillie Gifford & Co. now owns 3,260,419 shares of the technology company’s stock worth $89,988,000 after purchasing an additional 37,600 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in MakeMyTrip by 30.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,167,590 shares of the technology company’s stock worth $77,067,000 after purchasing an additional 746,010 shares during the period. Brown Advisory Inc. boosted its stake in MakeMyTrip by 39.7% in the 4th quarter. Brown Advisory Inc. now owns 2,008,442 shares of the technology company’s stock worth $48,865,000 after purchasing an additional 571,115 shares during the period. Global Thematic Partners LLC boosted its stake in MakeMyTrip by 7.0% in the 1st quarter. Global Thematic Partners LLC now owns 1,467,510 shares of the technology company’s stock worth $40,505,000 after purchasing an additional 95,809 shares during the period. Finally, Morgan Stanley boosted its stake in MakeMyTrip by 21.2% in the 3rd quarter. Morgan Stanley now owns 893,821 shares of the technology company’s stock worth $24,535,000 after purchasing an additional 156,059 shares during the period. Institutional investors own 46.06% of the company’s stock.

Several brokerages have commented on MMYT. ValuEngine upgraded MakeMyTrip from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. BidaskClub cut MakeMyTrip from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Finally, Bank of America cut MakeMyTrip from a “buy” rating to an “underperform” rating and lowered their price target for the company from $32.00 to $25.00 in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.56.

NASDAQ:MMYT opened at $25.00 on Thursday. MakeMyTrip Limited has a twelve month low of $19.66 and a twelve month high of $41.70. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -11.34 and a beta of 0.42.

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About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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Institutional Ownership by Quarter for MakeMyTrip (NASDAQ:MMYT)

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