MakeMyTrip Limited $MMYT Shares Bought by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management Inc. has increased its stake in MakeMyTrip Limited by 54.6%, owning 37,769 shares valued at approximately $3.7 million.
• Several hedge funds have also significantly boosted their positions in MakeMyTrip, with Allspring Global Investments Holdings LLC increasing its holdings by 325.8% in the first quarter.
• Analysts have mixed views on MakeMyTrip, with Macquarie rating it "outperform" and setting a price target of $110.00, while Wall Street Zen has downgraded it to "sell."

Triasima Portfolio Management inc. boosted its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 54.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,769 shares of the technology company's stock after acquiring an additional 13,346 shares during the quarter. Triasima Portfolio Management inc.'s holdings in MakeMyTrip were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MMYT. Allspring Global Investments Holdings LLC lifted its holdings in shares of MakeMyTrip by 325.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,218 shares of the technology company's stock valued at $2,202,000 after buying an additional 17,000 shares during the period. E Fund Management Co. Ltd. lifted its holdings in shares of MakeMyTrip by 345.1% in the 1st quarter. E Fund Management Co. Ltd. now owns 14,004 shares of the technology company's stock valued at $1,372,000 after buying an additional 10,858 shares during the period. Totem Point Management LLC lifted its holdings in shares of MakeMyTrip by 36.6% in the 1st quarter. Totem Point Management LLC now owns 45,879 shares of the technology company's stock valued at $4,496,000 after buying an additional 12,302 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of MakeMyTrip by 11.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 800,033 shares of the technology company's stock valued at $78,395,000 after buying an additional 82,282 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of MakeMyTrip by 21.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 96,297 shares of the technology company's stock valued at $9,436,000 after buying an additional 17,286 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Tuesday, June 24th. Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Finally, Citigroup reduced their price target on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $94.05 on Wednesday. The stock has a fifty day moving average price of $97.29 and a 200 day moving average price of $99.00. The stock has a market cap of $10.46 billion, a PE ratio of 109.36 and a beta of 0.81. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15.

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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