USS Investment Management Ltd Trims Holdings in MakeMyTrip Limited $MMYT

USS Investment Management Ltd reduced its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,375 shares of the technology company’s stock after selling 42,883 shares during the period. USS Investment Management Ltd owned 0.18% of MakeMyTrip worth $7,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in MakeMyTrip by 112.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after acquiring an additional 826,143 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in MakeMyTrip by 140.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after acquiring an additional 555,620 shares during the last quarter. Hudson Bay Capital Management LP raised its holdings in MakeMyTrip by 107.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock valued at $7,582,000 after acquiring an additional 41,999 shares during the last quarter. Capital World Investors lifted its stake in shares of MakeMyTrip by 5.4% during the 3rd quarter. Capital World Investors now owns 1,306,699 shares of the technology company’s stock worth $122,307,000 after purchasing an additional 67,109 shares during the period. Finally, Aberdeen Group plc lifted its stake in shares of MakeMyTrip by 21.0% during the 4th quarter. Aberdeen Group plc now owns 260,177 shares of the technology company’s stock worth $21,366,000 after purchasing an additional 45,100 shares during the period. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research note on Saturday, June 27th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, HSBC initiated coverage on shares of MakeMyTrip in a research note on Thursday. They set a “buy” rating and a $70.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

MakeMyTrip Stock Up 0.1%

Shares of NASDAQ MMYT opened at $58.27 on Friday. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $104.99. The firm has a fifty day moving average of $46.39 and a 200-day moving average of $55.03. The stock has a market capitalization of $6.48 billion, a PE ratio of 233.08 and a beta of 0.98.

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.