Bank Pictet & Cie Europe AG Grows Position in MakeMyTrip Limited $MMYT

Key Points

• Bank Pictet & Cie Europe AG increased its stake in MakeMyTrip Limited by 51.9% in Q2, owning 9,738 shares valued at approximately $955,000.
• Mirae Asset Global Investments significantly boosted its holdings in MakeMyTrip by an astonishing 9,724.0% during the first quarter, now holding over 24 million shares worth about $2.36 billion.
• Wall Street analysts have a consensus rating of "Buy" for MakeMyTrip, with an average price target of $120.00, indicating positive market sentiment despite a recent price drop of 1.1%.

Bank Pictet & Cie Europe AG raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 51.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,738 shares of the technology company's stock after buying an additional 3,329 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in MakeMyTrip were worth $955,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew 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 worth $2,364,732,000 after buying an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of MakeMyTrip by 40.0% during 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 in the last quarter. New Vernon Capital Holdings II LLC grew its holdings in shares of MakeMyTrip by 9,699.0% during 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 in the last quarter. GQG Partners LLC grew its holdings in shares of MakeMyTrip by 273.2% during 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 in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of MakeMyTrip by 5.2% in the first quarter. American Century Companies Inc. now owns 1,336,008 shares of the technology company's stock valued at $130,915,000 after purchasing an additional 66,614 shares during the period. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Trading Down 1.1%

NASDAQ MMYT opened at $94.67 on Friday. The firm's 50-day moving average is $98.23 and its two-hundred day moving average is $99.11. MakeMyTrip Limited has a 12 month low of $81.84 and a 12 month high of $123.00. 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 capitalization of $10.53 billion, a P/E ratio of 110.08 and a beta of 0.87.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MMYT. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Citigroup dropped their price objective 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, Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MakeMyTrip has a consensus rating of "Buy" and an average price target of $120.00.

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.

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