Entropy Technologies LP Invests $668,000 in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• Entropy Technologies LP invested approximately $668,000 in MakeMyTrip Limited, acquiring 6,820 shares in the first quarter.
• MakeMyTrip's stock price increased by 1.2%, with a current market cap of $10.65 billion and a PE ratio of 111.26.
• Institutional investors collectively own 51.89% of MakeMyTrip's stock, with several large investors recently increasing their positions in the company.

Entropy Technologies LP purchased a new position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,820 shares of the technology company's stock, valued at approximately $668,000.

A number of other large investors also recently modified their holdings of MMYT. Parallel Advisors LLC lifted its position in shares of MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after buying an additional 477 shares during the last quarter. Gen Wealth Partners Inc lifted its position in shares of MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after buying an additional 165 shares during the last quarter. Signaturefd LLC lifted its position in shares of MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock worth $91,000 after buying an additional 270 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of MakeMyTrip in the 1st quarter worth about $107,000. Finally, Rakuten Securities Inc. increased its holdings in shares of MakeMyTrip by 124.4% in the 1st quarter. Rakuten Securities Inc. now owns 2,035 shares of the technology company's stock worth $199,000 after acquiring an additional 1,128 shares during the period. 51.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MMYT shares. Citigroup dropped their price objective 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. Wall Street Zen cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Tuesday, June 24th.

MakeMyTrip Price Performance

MakeMyTrip stock traded up $4.29 during trading hours on Friday, hitting $98.61. 1,300,762 shares of the company traded hands, compared to its average volume of 1,127,058. The firm has a market cap of $10.97 billion, a P/E ratio of 114.66 and a beta of 0.86. 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 firm's 50-day simple moving average is $95.90 and its two-hundred day simple moving average is $99.57. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00.

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.