Exchange Traded Concepts LLC Grows Stock Holdings in MakeMyTrip Limited $MMYT

Key Points

• Exchange Traded Concepts LLC increased its stake in MakeMyTrip Limited by 91.8% in the second quarter, owning approximately 87,312 shares valued at $8.56 million.
• Wall Street analysts have positive projections for MakeMyTrip, with firms like Macquarie upgrading the stock to "outperform" and setting a target price of $110.00.
• The company's stock currently has a market cap of $11.05 billion and an average rating of "Buy", reflecting confidence in its future performance.

Exchange Traded Concepts LLC lifted its position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 91.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,312 shares of the technology company's stock after buying an additional 41,799 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.08% of MakeMyTrip worth $8,558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in MakeMyTrip by 325.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,218 shares of the technology company's stock worth $2,202,000 after purchasing an additional 17,000 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in shares of MakeMyTrip by 345.1% during the 1st quarter. E Fund Management Co. Ltd. now owns 14,004 shares of the technology company's stock valued at $1,372,000 after acquiring an additional 10,858 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of MakeMyTrip during the fourth quarter worth $2,183,000. Totem Point Management LLC increased its stake in shares of MakeMyTrip by 36.6% during the first quarter. Totem Point Management LLC now owns 45,879 shares of the technology company's stock valued at $4,496,000 after buying an additional 12,302 shares during the period. Finally, Squarepoint Ops LLC grew its stake in MakeMyTrip by 103.1% in the fourth quarter. Squarepoint Ops LLC now owns 6,105 shares of the technology company's stock valued at $685,000 after purchasing an additional 3,099 shares during the last quarter. Institutional investors own 51.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MMYT. Citigroup decreased their price target on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Stock Up 2.6%

NASDAQ:MMYT traded up $2.56 during mid-day trading on Friday, hitting $101.84. 1,133,910 shares of the company's stock were exchanged, compared to its average volume of 784,963. The business has a fifty day moving average price of $97.90 and a 200 day moving average price of $98.84. The company has a market cap of $11.33 billion, a PE ratio of 118.42 and a beta of 0.87. MakeMyTrip Limited has a one year low of $81.84 and a one year high of $123.00. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15.

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.