Coronation Fund Managers Ltd. Takes $25.46 Million Position in MakeMyTrip Limited $MMYT

Key Points

• Coronation Fund Managers Ltd. has acquired a new stake in MakeMyTrip Limited valued at approximately $25.46 million, holding 259,780 shares in the company.
• MakeMyTrip makes up about 1.4% of Coronation Fund Managers Ltd.'s portfolio, ranking as the 22nd largest position within their investments.
• Wall Street analysts have mixed opinions on MakeMyTrip, with Macquarie upgrading its rating to "outperform" and setting a target price of $110.00, while Wall Street Zen has downgraded it to a "sell" rating.

Coronation Fund Managers Ltd. purchased a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 259,780 shares of the technology company's stock, valued at approximately $25,464,000. MakeMyTrip makes up approximately 1.4% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 22nd largest position. Coronation Fund Managers Ltd. owned 0.23% of MakeMyTrip as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of MakeMyTrip in the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new stake in shares of MakeMyTrip in the 1st quarter valued at $29,000. Stone House Investment Management LLC acquired a new stake in shares of MakeMyTrip in the 1st quarter valued at $49,000. Farther Finance Advisors LLC acquired a new stake in shares of MakeMyTrip in the 2nd quarter valued at $50,000. Finally, Signaturefd LLC lifted its stake in shares of MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $90.73 on Tuesday. The firm's 50-day moving average is $96.87 and its 200-day moving average is $98.35. MakeMyTrip Limited has a 52-week low of $81.84 and a 52-week high of $123.00. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 105.50 and a beta of 0.81.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MMYT shares. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Finally, Citigroup cut their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $120.00.

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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