Mackenzie Financial Corp Takes $1.19 Million Position in MakeMyTrip Limited (NASDAQ:MMYT)

Mackenzie Financial Corp acquired a new stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,153 shares of the technology company's stock, valued at approximately $1,191,000.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings 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 in the last quarter. Gen Wealth Partners Inc lifted its position 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 buying an additional 165 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after buying an additional 270 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of MakeMyTrip in the 1st quarter valued at $107,000. Finally, Quadrant Capital Group LLC acquired a new stake in MakeMyTrip during the 4th quarter worth $125,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Performance

NASDAQ:MMYT traded down $0.82 during trading hours on Friday, reaching $94.74. 200,202 shares of the company's stock were exchanged, compared to its average volume of 1,053,788. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 110.09 and a beta of 0.86. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00. The company has a 50-day moving average of $96.63 and a 200 day moving average of $100.04.

Analyst Ratings Changes

Several research firms have issued reports on MMYT. Citigroup decreased their price objective 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. Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, 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.

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.