Dorsey Wright & Associates Sells 9,374 Shares of MakeMyTrip Limited $MMYT

Dorsey Wright & Associates cut its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 38.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,947 shares of the technology company’s stock after selling 9,374 shares during the quarter. Dorsey Wright & Associates’ holdings in MakeMyTrip were worth $1,465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steadview Capital Management LLC grew its holdings in MakeMyTrip by 24.9% during the 2nd quarter. Steadview Capital Management LLC now owns 198,600 shares of the technology company’s stock worth $19,467,000 after acquiring an additional 39,600 shares during the last quarter. Portside Wealth Group LLC acquired a new position in shares of MakeMyTrip during the second quarter worth approximately $252,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of MakeMyTrip during the second quarter valued at approximately $30,005,000. Itau Unibanco Holding S.A. acquired a new stake in shares of MakeMyTrip in the second quarter valued at approximately $655,000. Finally, SG Americas Securities LLC increased its holdings in shares of MakeMyTrip by 593.9% in the second quarter. SG Americas Securities LLC now owns 10,762 shares of the technology company’s stock valued at $1,055,000 after purchasing an additional 9,211 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock opened at $73.82 on Wednesday. MakeMyTrip Limited has a 52 week low of $72.94 and a 52 week high of $123.00. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 115.35 and a beta of 0.87. The firm has a fifty day moving average of $88.91 and a two-hundred day moving average of $95.34.

Analysts Set New Price Targets

Several research analysts have issued reports on MMYT shares. Weiss Ratings started coverage on MakeMyTrip in a report on Thursday, October 30th. They set a “hold (c)” rating on the stock. Citigroup cut their price target on MakeMyTrip from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.00.

About MakeMyTrip

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.