Polen Capital Management LLC Sells 33,631 Shares of MakeMyTrip Limited $MMYT

Polen Capital Management LLC lessened its position in MakeMyTrip Limited (NASDAQ:MMYT) by 38.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,658 shares of the technology company’s stock after selling 33,631 shares during the quarter. Polen Capital Management LLC’s holdings in MakeMyTrip were worth $4,406,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group lifted its holdings in shares of MakeMyTrip by 12.2% in the 3rd quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company’s stock worth $591,269,000 after acquiring an additional 688,957 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after acquiring an additional 114,975 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of MakeMyTrip by 7.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,281,492 shares of the technology company’s stock worth $213,548,000 after acquiring an additional 166,456 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of MakeMyTrip by 11.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,935,142 shares of the technology company’s stock worth $158,914,000 after acquiring an additional 199,699 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of MakeMyTrip in the 4th quarter worth about $150,069,000. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Up 6.9%

Shares of MakeMyTrip stock opened at $41.74 on Friday. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $104.99. The firm’s 50-day moving average is $44.50 and its two-hundred day moving average is $57.53. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 166.96 and a beta of 1.01.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Zacks Research cut shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. The Goldman Sachs Group restated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

MakeMyTrip Profile

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.