Armis Advisers LLC Buys New Position in MakeMyTrip Limited (NASDAQ:MMYT)

Armis Advisers LLC purchased a new position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,435 shares of the technology company's stock, valued at approximately $273,000.

Several other hedge funds have also recently modified their holdings of MMYT. Rheos Capital Works Inc. increased its stake in MakeMyTrip by 237.5% during the 4th quarter. Rheos Capital Works Inc. now owns 135,000 shares of the technology company's stock valued at $15,158,000 after purchasing an additional 95,000 shares in the last quarter. New York State Common Retirement Fund grew its position in MakeMyTrip by 100.2% during the fourth quarter. New York State Common Retirement Fund now owns 101,279 shares of the technology company's stock valued at $11,372,000 after buying an additional 50,689 shares during the period. Handelsbanken Fonder AB grew its position in MakeMyTrip by 9.2% during the fourth quarter. Handelsbanken Fonder AB now owns 44,924 shares of the technology company's stock valued at $5,044,000 after buying an additional 3,800 shares during the period. Norges Bank purchased a new position in MakeMyTrip during the fourth quarter valued at $97,833,000. Finally, Prudential PLC lifted its holdings in MakeMyTrip by 70.8% during the fourth quarter. Prudential PLC now owns 10,787 shares of the technology company's stock valued at $1,211,000 after purchasing an additional 4,470 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Performance

NASDAQ:MMYT traded down $0.11 during trading hours on Friday, reaching $101.90. 332,688 shares of the company's stock were exchanged, compared to its average volume of 705,722. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 55.38, a P/E/G ratio of 6.56 and a beta of 0.92. The company has a 50-day moving average of $101.99 and a 200 day moving average of $105.22. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19. MakeMyTrip Limited has a 1-year low of $72.55 and a 1-year high of $123.00.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Citigroup boosted their price target on shares of MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, May 15th.

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.