8,744 Shares in MakeMyTrip Limited (NASDAQ:MMYT) Purchased by LGT Group Foundation

Key Points

• LGT Group Foundation purchased 8,744 shares of MakeMyTrip Limited, valued at approximately $857,000, during the first quarter.
• Institutional investors collectively own 51.89% of MakeMyTrip's stock, with several firms increasing their positions in the company in the latest quarter.
• MakeMyTrip's stock has shown a 1.2% increase, with shares currently trading at $95.68, amid recent changes in analyst ratings and price targets.

LGT Group Foundation acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,744 shares of the technology company's stock, valued at approximately $857,000.

A number of other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in MakeMyTrip by 9,724.0% in the first 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 acquiring an additional 23,886,735 shares during the period. Baillie Gifford & Co. grew its stake in MakeMyTrip by 40.0% in the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after acquiring an additional 1,471,660 shares during the period. Ninety One UK Ltd grew its stake in MakeMyTrip by 1,586.6% in the first quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock valued at $75,732,000 after acquiring an additional 727,030 shares during the period. The Manufacturers Life Insurance Company grew its stake in MakeMyTrip by 13.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 717,751 shares of the technology company's stock valued at $80,589,000 after acquiring an additional 85,689 shares during the period. Finally, Wasatch Advisors LP grew its stake in MakeMyTrip by 11.6% in the fourth quarter. Wasatch Advisors LP now owns 534,342 shares of the technology company's stock valued at $59,996,000 after acquiring an additional 55,361 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MMYT shares. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Tuesday, June 24th. Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Citigroup cut their price target on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd.

MakeMyTrip Stock Up 4.5%

Shares of MakeMyTrip stock traded up $4.29 during trading on Friday, reaching $98.61. The stock had a trading volume of 1,300,762 shares, compared to its average volume of 1,127,058. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 114.66 and a beta of 0.86. The stock has a fifty day moving average price of $95.90 and a two-hundred day moving average price of $99.64. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35.

MakeMyTrip 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.