Canada Pension Plan Investment Board Buys 149,999 Shares of MakeMyTrip Limited $MMYT

Key Points

• The Canada Pension Plan Investment Board increased its stake in MakeMyTrip Limited by 223.9% in Q1, owning 216,999 shares valued at approximately $21.26 million.
• Several institutional investors made significant increases in their holdings of MakeMyTrip, with Mirae Asset Global Investments raising its stake by an astounding 9,724.0%.
• Analyst sentiments fluctuate, as Macquarie upgraded MakeMyTrip to "outperform" with a $110.00 price target, while Wall Street Zen downgraded the stock from "hold" to "sell."

Canada Pension Plan Investment Board grew its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 223.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 216,999 shares of the technology company's stock after buying an additional 149,999 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.20% of MakeMyTrip worth $21,264,000 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. Gen Wealth Partners Inc lifted its holdings in shares of MakeMyTrip by 29.5% during the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after purchasing an additional 165 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of MakeMyTrip by 5.5% during 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 period. Signaturefd LLC lifted its holdings in shares of MakeMyTrip by 40.9% during 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 period. Haven Private LLC lifted its holdings in shares of MakeMyTrip by 3.4% during 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 period. Finally, WPG Advisers LLC acquired a new position in shares of MakeMyTrip during the first quarter worth $28,000. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Up 0.4%

MMYT traded up $0.36 during midday trading on Friday, hitting $100.45. The company had a trading volume of 897,001 shares, compared to its average volume of 1,010,375. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 116.80 and a beta of 0.87. The stock's 50 day moving average price is $97.09 and its 200 day moving average price is $98.68.

Analysts Set New Price Targets

MMYT has been the topic of a number of recent research reports. Citigroup cut their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, MakeMyTrip has a consensus rating of "Buy" and an average 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.