Invst LLC Purchases New Stake in MakeMyTrip Limited $MMYT

Key Points

• Invst LLC invested approximately $989,000 in MakeMyTrip Limited by acquiring 10,089 shares in the first quarter.
• Several institutional investors have increased their stakes in MakeMyTrip, with New Vernon Capital Holdings II LLC boosting their holding by 9,699% to own over 5 million shares valued at nearly $504 million.
• Analyst ratings for MakeMyTrip are generally optimistic, with a consensus rating of "Buy" and an average price target of $120.00.

Invst LLC purchased a new position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,089 shares of the technology company's stock, valued at approximately $989,000.

Other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in MakeMyTrip by 5.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,638 shares of the technology company's stock worth $454,000 after buying an additional 241 shares during the last quarter. Signaturefd LLC grew its stake in MakeMyTrip by 40.9% during 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. Haven Private LLC grew its stake in MakeMyTrip by 3.4% during the 1st quarter. Haven Private LLC now owns 8,776 shares of the technology company's stock worth $860,000 after buying an additional 286 shares during the last quarter. WPG Advisers LLC purchased a new stake in MakeMyTrip during the 1st quarter valued at about $28,000. Finally, Twin Tree Management LP purchased a new stake in MakeMyTrip during the 1st quarter valued at about $29,000. 51.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on MMYT. Citigroup dropped their price target on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $120.00.

MakeMyTrip Price Performance

NASDAQ MMYT traded up $1.20 during trading hours on Thursday, reaching $98.20. The company's stock had a trading volume of 546,935 shares, compared to its average volume of 1,011,470. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 114.01 and a beta of 0.87. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-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. The company's 50-day moving average is $97.54 and its two-hundred day moving average is $98.70.

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.