U S Global Investors Inc. Lowers Stake in MakeMyTrip Limited $MMYT

U S Global Investors Inc. reduced its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 49.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,204 shares of the technology company’s stock after selling 41,989 shares during the quarter. U S Global Investors Inc.’s holdings in MakeMyTrip were worth $4,137,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MMYT. WPG Advisers LLC purchased a new stake in MakeMyTrip in the first quarter worth about $28,000. Twin Tree Management LP purchased a new stake in MakeMyTrip in the first quarter worth about $29,000. Stone House Investment Management LLC purchased a new stake in MakeMyTrip in the first quarter worth about $49,000. Farther Finance Advisors LLC purchased a new stake in MakeMyTrip in the second quarter worth about $50,000. Finally, Signaturefd LLC lifted its stake in MakeMyTrip by 40.9% in the first quarter. Signaturefd LLC now owns 930 shares of the technology company’s stock worth $91,000 after acquiring an additional 270 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock opened at $91.66 on Friday. The company has a market capitalization of $10.20 billion, a PE ratio of 106.58 and a beta of 0.81. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50-day simple moving average of $97.31 and a two-hundred day simple moving average of $98.76. MakeMyTrip Limited has a one year low of $81.84 and a one year high of $123.00.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Macquarie raised shares of MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MakeMyTrip presently has an average rating of “Buy” and an average price target of $120.00.

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.