USS Investment Management Ltd Raises Stock Holdings in MakeMyTrip Limited $MMYT

Key Points

• USS Investment Management Ltd increased its stake in MakeMyTrip Limited by 29.5% in the first quarter, now owning approximately 0.25% of the company, valued at $26.6 million.
• Other institutional investors have also significantly increased their positions, with Mirae Asset Global Investments boosting its stake by 9,724% during the same period.
• Analysts have given MakeMyTrip an average rating of "Buy" with a target price of $120, despite some recent downgrades from other analysts.

USS Investment Management Ltd increased its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 29.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,782 shares of the technology company's stock after acquiring an additional 61,928 shares during the quarter. USS Investment Management Ltd owned approximately 0.25% of MakeMyTrip worth $26,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMYT. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MakeMyTrip by 9,724.0% in the 1st 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 purchasing an additional 23,886,735 shares in the last quarter. New Vernon Capital Holdings II LLC increased its holdings in MakeMyTrip by 9,699.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company's stock valued at $503,992,000 after buying an additional 5,090,811 shares during the period. Baillie Gifford & Co. raised 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 worth $505,158,000 after buying an additional 1,471,660 shares in the last quarter. GQG Partners LLC lifted its holdings in MakeMyTrip by 273.2% during the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company's stock worth $196,911,000 after buying an additional 1,470,985 shares during the period. Finally, Ninety One UK Ltd boosted its position in MakeMyTrip by 1,586.6% during the 1st 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 in the last quarter. 51.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

MakeMyTrip Stock Down 2.6%

Shares of MMYT traded down $2.62 during mid-day trading on Friday, hitting $98.09. 200,457 shares of the company traded hands, compared to its average volume of 1,003,229. The company has a market capitalization of $10.91 billion, a PE ratio of 114.16 and a beta of 0.87. 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 business has a 50 day moving average of $97.34 and a 200 day moving average of $98.60. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00.

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.