Allspring Global Investments Holdings LLC Increases Stock Holdings in MakeMyTrip Limited $MMYT

Key Points

• Allspring Global Investments Holdings LLC increased its stake in MakeMyTrip Limited by 642.4% in Q2, acquiring a total of 164,953 shares worth approximately $15.6 million.
• Several hedge funds, including WPG Advisers LLC and Twin Tree Management LP, have recently invested in MakeMyTrip, contributing to institutional investors owning 51.89% of the company’s stock.
• Research analysts have mixed views on MakeMyTrip, with Wall Street Zen downgrading the stock to "sell," while Macquarie upgraded it to "outperform," setting a target price of $110.00.

Allspring Global Investments Holdings LLC lifted its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 642.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,953 shares of the technology company's stock after purchasing an additional 142,735 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of MakeMyTrip worth $15,626,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of MakeMyTrip in the first quarter valued at about $28,000. Twin Tree Management LP purchased a new stake in shares of MakeMyTrip in the first quarter valued at about $29,000. Stone House Investment Management LLC purchased a new stake in shares of MakeMyTrip in the first quarter valued at about $49,000. Farther Finance Advisors LLC purchased a new stake in shares of MakeMyTrip in the second quarter valued at about $50,000. Finally, Signaturefd LLC grew its holdings in shares of MakeMyTrip by 40.9% in the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 51.89% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Tuesday, June 24th. Finally, Citigroup decreased their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, MakeMyTrip currently has an average rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Stock Up 0.9%

Shares of MMYT opened at $89.02 on Friday. The stock has a market capitalization of $9.90 billion, a PE ratio of 103.51 and a beta of 0.81. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year 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 company's 50-day simple moving average is $96.94 and its 200-day simple moving average is $98.33.

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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