MakeMyTrip Limited $MMYT Holdings Boosted by Matthews International Capital Management LLC

Key Points

• Matthews International Capital Management LLC increased its stake in MakeMyTrip Limited by 35.2%, owning approximately 183,815 shares valued at around $18 million post the expansion.
• Other institutional investors, including J. Safra Sarasin and Ninety One North America, have also adjusted their holdings, making the total institutional ownership of the stock approximately 51.89%.
• MakeMyTrip has attracted mixed analyst ratings, with Macquarie upgrading it to an "outperform" rating and Citigroup reducing its target price from $125 to $120.

Matthews International Capital Management LLC raised its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 35.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,815 shares of the technology company's stock after purchasing an additional 47,835 shares during the period. MakeMyTrip accounts for 4.1% of Matthews International Capital Management LLC's holdings, making the stock its 7th biggest position. Matthews International Capital Management LLC owned about 0.17% of MakeMyTrip worth $18,018,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG purchased a new position in MakeMyTrip during the second quarter valued at $661,000. Ninety One North America Inc. lifted its holdings in MakeMyTrip by 6.1% during the second quarter. Ninety One North America Inc. now owns 202,881 shares of the technology company's stock valued at $19,886,000 after purchasing an additional 11,672 shares in the last quarter. Ninety One UK Ltd raised its position in shares of MakeMyTrip by 1.3% in the second quarter. Ninety One UK Ltd now owns 783,059 shares of the technology company's stock valued at $76,755,000 after buying an additional 10,206 shares during the last quarter. Signaturefd LLC raised its position in shares of MakeMyTrip by 23.3% in the second quarter. Signaturefd LLC now owns 1,147 shares of the technology company's stock valued at $112,000 after buying an additional 217 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position in shares of MakeMyTrip by 51.9% in the second quarter. Bank Pictet & Cie Europe AG now owns 9,738 shares of the technology company's stock valued at $955,000 after buying an additional 3,329 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Trading Up 0.1%

Shares of MMYT opened at $94.45 on Friday. 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 Limited has a 12-month low of $81.84 and a 12-month high of $123.00. The firm has a 50-day moving average price of $97.52 and a 200 day moving average price of $99.09. The firm has a market capitalization of $10.51 billion, a P/E ratio of 109.83 and a beta of 0.81.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MMYT shares. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Tuesday, June 24th. Wall Street Zen cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Citigroup reduced their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, MakeMyTrip currently has an average rating of "Buy" and an average price target of $120.00.

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.

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