Aberdeen Group plc Makes New $342,000 Investment in MakeMyTrip Limited $MMYT

Key Points

• Aberdeen Group plc has invested approximately $342,000 in MakeMyTrip Limited, acquiring 3,492 shares during the first quarter according to its recent SEC filing.
• Several hedge funds have also increased their stakes in MakeMyTrip, with notable increases including Parallel Advisors LLC raising its position by 1,014.9% during the same period.
• MakeMyTrip currently has an average price target of $120.00 among analysts, with ratings varying from "sell" to "outperform" based on recent research notes.

Aberdeen Group plc purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,492 shares of the technology company's stock, valued at approximately $342,000.

A number of other large investors have also added to or reduced their stakes in MMYT. Allspring Global Investments Holdings LLC grew its holdings in shares of MakeMyTrip by 325.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,218 shares of the technology company's stock worth $2,202,000 after purchasing an additional 17,000 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in MakeMyTrip by 345.1% in the first quarter. E Fund Management Co. Ltd. now owns 14,004 shares of the technology company's stock valued at $1,372,000 after buying an additional 10,858 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in MakeMyTrip in the fourth quarter valued at about $2,183,000. Squarepoint Ops LLC boosted its stake in MakeMyTrip by 103.1% in the fourth quarter. Squarepoint Ops LLC now owns 6,105 shares of the technology company's stock valued at $685,000 after buying an additional 3,099 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in MakeMyTrip by 21.9% in the first quarter. Jupiter Asset Management Ltd. now owns 96,297 shares of the technology company's stock valued at $9,436,000 after buying an additional 17,286 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

Wall Street Analysts Forecast Growth

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

MakeMyTrip Trading Down 2.2%

Shares of MMYT traded down $2.32 during mid-day trading on Thursday, reaching $100.85. 107,899 shares of the company were exchanged, compared to its average volume of 1,017,973. The stock has a market capitalization of $11.22 billion, a PE ratio of 117.14 and a beta of 0.86. The business has a 50 day simple moving average of $96.54 and a two-hundred day simple moving average of $98.94. 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.

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.