Freedom Investment Management Inc. Has $1.13 Million Stock Holdings 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. lifted its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 114.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,549 shares of the technology company's stock after purchasing an additional 6,157 shares during the quarter. 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 have also modified their holdings of MMYT. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MakeMyTrip by 9,724.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock valued at $2,364,732,000 after purchasing an additional 23,886,735 shares during the period. Baillie Gifford & Co. grew its position in shares of MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after purchasing an additional 1,471,660 shares during the period. GQG Partners LLC grew its position in shares of MakeMyTrip by 273.2% in the 1st quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company's stock valued at $196,911,000 after purchasing an additional 1,470,985 shares during the period. Ninety One UK Ltd grew its position in shares of MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock valued at $75,732,000 after purchasing an additional 727,030 shares during the period. Finally, Ninety One North America Inc. acquired a new position in shares of MakeMyTrip in the 1st quarter valued at approximately $18,737,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MMYT. Citigroup decreased their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $120.00.

MakeMyTrip Stock Down 1.7%

Shares of MakeMyTrip stock traded down $1.70 on Friday, reaching $98.75. 538,700 shares of the company were exchanged, compared to its average volume of 704,978. MakeMyTrip Limited has a one year low of $81.84 and a one year high of $123.00. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 114.83 and a beta of 0.86. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. The company has a 50-day moving average of $96.81 and a 200 day moving average of $98.78.

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.