Allianz Asset Management GmbH Purchases 72,292 Shares of MakeMyTrip Limited (NASDAQ:MMYT)

Allianz Asset Management GmbH grew its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 22.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,608 shares of the technology company's stock after purchasing an additional 72,292 shares during the period. Allianz Asset Management GmbH owned approximately 0.36% of MakeMyTrip worth $38,374,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MMYT. Parallel Advisors LLC lifted its holdings in shares of MakeMyTrip by 1,014.9% during the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after acquiring an additional 477 shares during the last quarter. Gen Wealth Partners Inc lifted its holdings in shares of MakeMyTrip by 29.5% during the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC lifted its stake in MakeMyTrip by 40.9% in the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock worth $91,000 after purchasing an additional 270 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in MakeMyTrip in the first quarter worth $107,000. Finally, Quadrant Capital Group LLC bought a new stake in MakeMyTrip in the fourth quarter worth $125,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Stock Down 0.3%

Shares of NASDAQ:MMYT traded down $0.28 during trading on Thursday, reaching $101.62. 1,036,018 shares of the stock traded hands, compared to its average volume of 1,336,181. The stock has a market cap of $11.31 billion, a P/E ratio of 118.16 and a beta of 0.85. The stock has a 50-day moving average of $98.10 and a two-hundred day moving average of $100.95. MakeMyTrip Limited has a 52-week low of $76.95 and a 52-week high of $123.00. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.85 and a current ratio of 1.15.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMYT. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Tuesday, June 24th. Finally, Citigroup cut their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday.

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.