GQG Partners LLC Increases Position in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• GQG Partners LLC significantly increased its holdings in MakeMyTrip by 273.2%, acquiring over 1.4 million new shares, totaling 2,009,506 shares.
• MakeMyTrip shares have shown positive trading movement, opening at $95.68 and showing a market capitalization of $10.65 billion.
• Analyst ratings for MakeMyTrip are mixed, with Wall Street Zen downgrading it to a "sell" while Citigroup has a "buy" rating, lowering its price target to $120.00.

GQG Partners LLC lifted its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 273.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,009,506 shares of the technology company's stock after buying an additional 1,470,985 shares during the period. GQG Partners LLC owned approximately 1.83% of MakeMyTrip worth $196,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of MakeMyTrip in the 1st quarter worth approximately $49,000. Parallel Advisors LLC lifted its stake in MakeMyTrip by 1,014.9% in the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after purchasing an additional 477 shares during the last quarter. Gen Wealth Partners Inc lifted its stake in MakeMyTrip by 29.5% in the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after purchasing an additional 165 shares during the last quarter. Signaturefd LLC lifted its stake in MakeMyTrip by 40.9% in 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 last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in MakeMyTrip in the first quarter valued at approximately $107,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Trading Up 1.2%

Shares of MMYT stock opened at $95.68 on Wednesday. The company's fifty day simple moving average is $96.19 and its two-hundred day simple moving average is $99.79. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 111.26 and a beta of 0.86.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Citigroup dropped their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 24th.

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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