Freedom Investment Management Inc. Has $1.13 Million Position in MakeMyTrip Limited $MMYT

Key Points

• Freedom Investment Management Inc. increased its stake in MakeMyTrip Limited by 114.2% during the 1st quarter, acquiring an additional 6,157 shares and bringing its total holdings to 11,549 shares valued at $1,132,000.
• Other institutional investors also significantly boosted their stakes, with Mirae Asset Global Investments increasing their holdings by 9,724.0%, now owning 24,132,381 shares worth $2.36 billion.
• Wall Street analysts show mixed sentiments about MakeMyTrip, with Macquarie upgrading it to an "outperform" rating and a target price of $110.00, while Citigroup lowered its price objective from $125.00 to $120.00.

Freedom Investment Management Inc. raised its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 114.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,549 shares of the technology company's stock after purchasing an additional 6,157 shares during the period. Freedom Investment Management Inc.'s holdings in MakeMyTrip were worth $1,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Stone House Investment Management LLC bought a new position in MakeMyTrip during the first quarter valued at about $49,000. Parallel Advisors LLC grew its holdings in shares of MakeMyTrip by 1,014.9% during the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after purchasing an additional 477 shares in the last quarter. Gen Wealth Partners Inc grew its holdings in shares of MakeMyTrip by 29.5% during the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after purchasing an additional 165 shares in the last quarter. Signaturefd LLC increased its position in shares of MakeMyTrip by 40.9% during the first 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 period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of MakeMyTrip in the first quarter valued at $107,000. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded down $2.72 during mid-day trading on Thursday, reaching $100.45. 607,337 shares of the stock were exchanged, compared to its average volume of 1,021,216. MakeMyTrip Limited has a fifty-two week low of $81.84 and a fifty-two week high of $123.00. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 116.80 and a beta of 0.86. The firm has a 50-day simple moving average of $96.67 and a 200 day simple moving average of $98.87. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35.

Analysts Set New Price Targets

A number of research firms have weighed in on MMYT. Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. 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 research report on Tuesday, June 24th. Finally, Citigroup cut their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $120.00.

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.