Townsquare Capital LLC Makes New Investment in MakeMyTrip Limited $MMYT

Key Points

• Townsquare Capital LLC acquired 6,224 shares of MakeMyTrip Limited, valued at around $610,000, during the first quarter of the year.
• Several institutional investors significantly increased their stakes in MakeMyTrip, with Mirae Asset Global Investments raising its position by an astonishing 9,724.0%.
• Wall Street analysts have mixed views, with Citigroup lowering its price target to $120.00, while Macquarie upgraded its rating from "neutral" to "outperform" with a target of $110.00.

Townsquare Capital LLC bought a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,224 shares of the technology company's stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MMYT. Parallel Advisors LLC raised its holdings in shares of MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after purchasing an additional 477 shares in the last quarter. Gen Wealth Partners Inc raised its holdings in shares of MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after purchasing an additional 165 shares in the last quarter. Signaturefd LLC raised its holdings in shares of MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after purchasing an additional 270 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of MakeMyTrip in the 1st quarter valued at $107,000. Finally, Rakuten Securities Inc. raised its holdings in shares of MakeMyTrip by 124.4% in the 1st quarter. Rakuten Securities Inc. now owns 2,035 shares of the technology company's stock valued at $199,000 after purchasing an additional 1,128 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Performance

MakeMyTrip stock traded up $0.2590 during midday trading on Wednesday, hitting $101.7790. 384,494 shares of the company's stock were exchanged, compared to its average volume of 1,036,010. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00. 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 stock has a market cap of $11.32 billion, a price-to-earnings ratio of 118.34 and a beta of 0.86. The firm's 50 day simple moving average is $95.95 and its 200 day simple moving average is $99.44.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MMYT shares. Citigroup reduced their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MakeMyTrip has an average rating of "Buy" and a consensus target price of $120.00.

About MakeMyTrip

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.