Banque Pictet & Cie SA Buys 8,007 Shares of MakeMyTrip Limited $MMYT

Key Points

• Banque Pictet & Cie SA increased its stake in MakeMyTrip Limited by 38.8%, acquiring an additional 8,007 shares during the second quarter, bringing its total holdings to 28,669 shares.
• Institutional investors own approximately 51.89% of MakeMyTrip's stock, with several hedge funds having increased their stakes recently.
• Analysts have mixed ratings for MakeMyTrip, with Citigroup lowering its price target from $125 to $120, while Macquarie upgraded its rating to "outperform" with a target of $110.

Banque Pictet & Cie SA grew its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 38.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,669 shares of the technology company's stock after buying an additional 8,007 shares during the quarter. Banque Pictet & Cie SA's holdings in MakeMyTrip were worth $2,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of MakeMyTrip by 5.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,638 shares of the technology company's stock worth $454,000 after purchasing an additional 241 shares during the last quarter. Signaturefd LLC grew its stake in shares of MakeMyTrip by 40.9% in the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock worth $91,000 after purchasing an additional 270 shares during the last quarter. Haven Private LLC grew its stake in shares of MakeMyTrip by 3.4% in the first quarter. Haven Private LLC now owns 8,776 shares of the technology company's stock worth $860,000 after purchasing an additional 286 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of MakeMyTrip in the first quarter worth $28,000. Finally, Twin Tree Management LP bought a new stake in shares of MakeMyTrip in the first quarter worth $29,000. Institutional investors own 51.89% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of 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 raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $120.00.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $94.67 on Friday. The firm's 50-day moving average price is $98.23 and its 200-day moving average price is $99.11. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00. The firm has a market capitalization of $10.53 billion, a P/E ratio of 110.08 and a beta of 0.87. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35.

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.

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