Totem Point Management LLC Increases Position in MakeMyTrip Limited $MMYT

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 raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 36.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,879 shares of the technology company's stock after purchasing an additional 12,302 shares during the quarter. MakeMyTrip accounts for 5.5% of Totem Point Management LLC's portfolio, making the stock its 6th largest position. Totem Point Management LLC's holdings in MakeMyTrip were worth $4,496,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Gen Wealth Partners Inc grew its stake in MakeMyTrip by 29.5% during the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after purchasing an additional 165 shares in the last quarter. 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 valued at $454,000 after purchasing an additional 241 shares in 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 valued at $91,000 after purchasing an additional 270 shares in 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 valued at $860,000 after purchasing an additional 286 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in MakeMyTrip during the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 51.89% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MMYT. Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Tuesday, June 24th. Finally, Citigroup reduced their target price on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $120.00.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT traded down $1.70 during mid-day trading on Monday, hitting $98.75. The company had a trading volume of 538,700 shares, compared to its average volume of 691,788. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 75.38 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 debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. The firm's 50 day simple moving average is $96.95 and its two-hundred day simple moving average is $98.71.

About MakeMyTrip

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.