Acadian Asset Management LLC Has $23.53 Million Stock Holdings in MakeMyTrip Limited $MMYT

Key Points

• Acadian Asset Management LLC reduced its holdings in MakeMyTrip Limited by 53.6%, now owning 240,274 shares valued at approximately $23.53 million.
• Other institutional investors significantly increased their positions in MakeMyTrip, with Mirae Asset Global Investments boosting its stake by 9,724% to over $2.36 billion in value.
• MakeMyTrip stock currently has an average price target of $120.00 after recent analyst upgrades, with Citigroup maintaining a "buy" rating despite reducing their price objective to $120.00.

Acadian Asset Management LLC lessened its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,274 shares of the technology company's stock after selling 277,832 shares during the period. Acadian Asset Management LLC owned about 0.22% of MakeMyTrip worth $23,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MMYT. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MakeMyTrip by 9,724.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock worth $2,364,732,000 after buying an additional 23,886,735 shares during the period. New Vernon Capital Holdings II LLC boosted its position in shares of MakeMyTrip by 9,699.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company's stock worth $503,992,000 after buying an additional 5,090,811 shares during the period. Baillie Gifford & Co. boosted its position in shares of MakeMyTrip by 40.0% in the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock worth $505,158,000 after buying an additional 1,471,660 shares during the period. GQG Partners LLC boosted its position in shares of MakeMyTrip by 273.2% in the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company's stock worth $196,911,000 after buying an additional 1,470,985 shares during the period. Finally, Ninety One UK Ltd boosted its position in shares of MakeMyTrip by 1,586.6% in the first quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock worth $75,732,000 after buying an additional 727,030 shares during the period. Institutional investors and hedge funds own 51.89% of the company's stock.

MakeMyTrip Price Performance

MMYT opened at $95.65 on Thursday. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The stock has a fifty day moving average price of $97.24 and a 200 day moving average price of $98.60. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 111.22 and a beta of 0.87.

Analyst Upgrades and Downgrades

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

MakeMyTrip 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.

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