MakeMyTrip Limited $MMYT is Totem Point Management LLC's 6th Largest Position

Key Points

• Totem Point Management LLC increased its stake in MakeMyTrip Limited by 36.6% in Q1, making it the fund's 6th largest position with holdings worth approximately $4.5 million.
• Several institutional investors, including Parallel Advisors LLC and Signaturefd LLC, significantly boosted their positions in MakeMyTrip during the first quarter, highlighting growing institutional interest.
• MakeMyTrip's current market capitalization is $11.18 billion, with a recent stock price of $100.45 amidst varied analyst ratings, including a lowered target price from Citigroup.

Totem Point Management LLC increased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,879 shares of the technology company's stock after purchasing an additional 12,302 shares during the quarter. MakeMyTrip makes up about 5.5% of Totem Point Management LLC's holdings, making the stock its 6th biggest position. Totem Point Management LLC's holdings in MakeMyTrip were worth $4,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMYT. Raymond James Financial Inc. purchased a new position in MakeMyTrip during the fourth quarter worth about $1,605,000. First Trust Advisors LP grew its position in shares of MakeMyTrip by 19.5% during the 4th quarter. First Trust Advisors LP now owns 4,807 shares of the technology company's stock valued at $540,000 after acquiring an additional 784 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of MakeMyTrip during the 4th quarter valued at approximately $764,000. Schonfeld Strategic Advisors LLC grew its position in shares of MakeMyTrip by 248.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 29,110 shares of the technology company's stock valued at $3,268,000 after acquiring an additional 20,747 shares during the period. Finally, AXA S.A. bought a new position in shares of MakeMyTrip during the 4th quarter valued at approximately $2,829,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MMYT shares. 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. Macquarie raised 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. Finally, Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $120.00.

MakeMyTrip Price Performance

Shares of NASDAQ:MMYT traded up $3.31 during trading on Wednesday, reaching $98.95. The company had a trading volume of 227,270 shares, compared to its average volume of 1,011,783. The company has a fifty day moving average of $96.95 and a two-hundred day moving average of $98.69. The stock has a market capitalization of $11.01 billion, a P/E ratio of 115.10 and a beta of 0.87. MakeMyTrip Limited has a 12 month low of $81.84 and a 12 month 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.