Freemont Capital Pte Ltd Makes New Investment in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• Freemont Capital Pte Ltd acquired 8,808 shares of MakeMyTrip Limited, valuing approximately $863,000, making it the fund's 6th biggest holding.
• In the first quarter, Mirae Asset Global Investments Co. Ltd. significantly increased its stake in MakeMyTrip by 9,724.0%, now owning over 24 million shares valued at approximately $2.36 billion.
• Analyst ratings for MakeMyTrip have varied, with Wall Street Zen upgrading it from "sell" to "hold," while Citigroup maintained a "buy" rating but reduced its price target to $120.00.

Freemont Capital Pte Ltd acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,808 shares of the technology company's stock, valued at approximately $863,000. MakeMyTrip comprises 0.0% of Freemont Capital Pte Ltd's investment portfolio, making the stock its 6th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in MMYT. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MakeMyTrip by 9,724.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock valued at $2,364,732,000 after purchasing an additional 23,886,735 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after acquiring an additional 1,471,660 shares in the last quarter. Norges Bank purchased a new position in MakeMyTrip during the 4th quarter worth approximately $97,833,000. Ninety One UK Ltd raised its stake in MakeMyTrip by 1,586.6% during the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock valued at $75,732,000 after purchasing an additional 727,030 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in MakeMyTrip during the 4th quarter valued at $28,241,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Stock Down 2.4%

NASDAQ:MMYT traded down $2.44 during mid-day trading on Tuesday, reaching $99.12. The stock had a trading volume of 877,221 shares, compared to its average volume of 1,244,635. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $11.03 billion, a P/E ratio of 115.26 and a beta of 0.85. The business's 50 day moving average is $97.82 and its 200 day moving average is $100.56. MakeMyTrip Limited has a fifty-two week low of $76.95 and a fifty-two week high of $123.00.

Analysts Set New Price Targets

MMYT has been the subject of several research analyst reports. Macquarie raised 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. Citigroup decreased their price target 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, Wall Street Zen upgraded shares of MakeMyTrip from a "sell" rating to a "hold" rating in a report on Thursday, May 15th.

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.