Groupe la Francaise Takes $6.08 Million Position in MakeMyTrip Limited $MMYT

Key Points

• Groupe la Francaise acquired 57,248 shares of MakeMyTrip Limited, valued at approximately $6,075,000, during the first quarter, bringing their total ownership to 0.05% of the company.
• Other institutional investors have significantly increased their stakes in MakeMyTrip, with Mirae Asset Global Investments lifting its position by 9,724.0%, now holding over 24 million shares.
• Despite mixed analyst ratings, MakeMyTrip has an average rating of "Buy" with a current target price of $120.00, reflecting various opinions on its future performance.

Groupe la Francaise purchased a new position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 57,248 shares of the technology company's stock, valued at approximately $6,075,000. Groupe la Francaise owned approximately 0.05% of MakeMyTrip at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMYT. Envestnet Asset Management Inc. increased its holdings in MakeMyTrip by 43.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,314 shares of the technology company's stock valued at $2,281,000 after acquiring an additional 6,188 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of MakeMyTrip during the fourth quarter valued at about $2,403,000. Raymond James Financial Inc. bought a new stake in shares of MakeMyTrip in the fourth quarter worth about $1,605,000. First Trust Advisors LP lifted its position in shares of MakeMyTrip by 19.5% in the fourth quarter. First Trust Advisors LP now owns 4,807 shares of the technology company's stock worth $540,000 after buying an additional 784 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in MakeMyTrip by 3.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,419 shares of the technology company's stock valued at $496,000 after buying an additional 142 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MMYT. Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Citigroup cut their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, MakeMyTrip currently has an average rating of "Buy" and an average price target of $120.00.

MakeMyTrip Trading Up 0.6%

NASDAQ MMYT traded up $0.64 on Wednesday, hitting $103.17. 512,108 shares of the stock were exchanged, compared to its average volume of 1,023,599. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. MakeMyTrip Limited has a 52-week low of $81.84 and a 52-week high of $123.00. The firm has a market capitalization of $11.48 billion, a P/E ratio of 119.97 and a beta of 0.86. The stock has a fifty day moving average price of $96.37 and a two-hundred day moving average price of $98.91.

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.