Carrhae Capital LLP Grows Position in MakeMyTrip Limited $MMYT

Key Points

• Carrhae Capital increased its MakeMyTrip stake by 47% in the second quarter, acquiring 70,823 additional shares to hold 221,385 shares valued at approximately $11.8 million.
• Institutional ownership remains significant, with hedge funds and other institutions holding 51.89% of MMYT; several other investors also increased their positions during the quarter.
• Analyst sentiment is generally positive but mixed: MakeMyTrip has a consensus “Moderate Buy” rating and an average price target of $86.75, while shares recently fell 3.1% to $53.90.

Carrhae Capital LLP raised its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 47.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,385 shares of the technology company's stock after purchasing an additional 70,823 shares during the quarter. MakeMyTrip accounts for about 0.3% of Carrhae Capital LLP's holdings, making the stock its 23rd biggest holding. Carrhae Capital LLP owned approximately 0.24% of MakeMyTrip worth $11,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMYT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MakeMyTrip by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company's stock worth $1,642,000 after buying an additional 1,721 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of MakeMyTrip by 24.7% in the second quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company's stock worth $336,000 after purchasing an additional 679 shares during the last quarter. Nebula Research & Development LLC increased its stake in shares of MakeMyTrip by 9.2% in the second quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company's stock worth $1,558,000 after buying an additional 1,345 shares during the period. Sei Investments Co. increased its stake in shares of MakeMyTrip by 14.9% in the second quarter. Sei Investments Co. now owns 520,853 shares of the technology company's stock worth $51,054,000 after buying an additional 67,367 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in MakeMyTrip by 108.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company's stock valued at $19,712,000 after buying an additional 104,641 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of MakeMyTrip from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. HSBC started coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a "buy" rating and a $70.00 price target for the company. Citigroup reiterated a "buy" rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Finally, The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a research report on Saturday, June 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, MakeMyTrip has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.

MakeMyTrip Stock Down 3.1%

Shares of NASDAQ MMYT traded down $1.72 on Tuesday, reaching $53.90. 751,565 shares of the company's stock traded hands, compared to its average volume of 1,322,741. The business's 50 day simple moving average is $57.62 and its two-hundred day simple moving average is $50.14. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $103.24. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 449.17 and a beta of 1.00.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company's offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India's leading travel technology firms.

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