HighTower Advisors LLC Has $3.25 Million Stock Position in MakeMyTrip Limited $MMYT

HighTower Advisors LLC reduced its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 21.7% during the 4th quarter, HoldingsChannel reports. The fund owned 39,510 shares of the technology company’s stock after selling 10,956 shares during the quarter. HighTower Advisors LLC’s holdings in MakeMyTrip were worth $3,245,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. GeoWealth Management LLC lifted its position in MakeMyTrip by 4.6% in the 3rd quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock valued at $361,000 after acquiring an additional 169 shares in the last quarter. Capital International Sarl lifted its position in MakeMyTrip by 0.5% in the 3rd quarter. Capital International Sarl now owns 37,903 shares of the technology company’s stock valued at $3,548,000 after acquiring an additional 179 shares in the last quarter. Osaic Holdings Inc. lifted its position in MakeMyTrip by 10.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after acquiring an additional 188 shares in the last quarter. Stone House Investment Management LLC lifted its position in MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after acquiring an additional 200 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in MakeMyTrip by 33.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock valued at $90,000 after acquiring an additional 278 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

MMYT has been the topic of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $46.74 on Friday. The company’s 50 day moving average price is $43.72 and its two-hundred day moving average price is $59.66. MakeMyTrip Limited has a 12-month low of $32.67 and a 12-month high of $104.99. The firm has a market cap of $5.20 billion, a PE ratio of 186.96 and a beta of 1.03. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 38.85.

About MakeMyTrip

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.