E Fund Management Co. Ltd. Increases Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• E Fund Management Co. Ltd. increased its stake in MakeMyTrip Limited by 345.1%, acquiring an additional 10,858 shares to bring its total holdings to 14,004 shares valued at approximately $1.37 million.
• Several analysts have issued mixed ratings on MakeMyTrip, with Macquarie upgrading it to an "outperform" rating and setting a target price of $110.00, while other firms like Wall Street Zen downgraded it to a "sell" rating.
• The current stock price of MakeMyTrip is around $95.60, with a 52-week trading range between $81.84 and $123.00, and institutional investors now own 51.89% of the company's shares.

E Fund Management Co. Ltd. boosted its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 345.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,004 shares of the technology company's stock after acquiring an additional 10,858 shares during the quarter. E Fund Management Co. Ltd.'s holdings in MakeMyTrip were worth $1,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in MakeMyTrip by 9,724.0% during the first 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 buying an additional 23,886,735 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of MakeMyTrip by 40.0% in the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after acquiring an additional 1,471,660 shares in the last quarter. Ninety One UK Ltd raised its position in shares of MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock worth $75,732,000 after acquiring an additional 727,030 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MakeMyTrip by 13.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 717,751 shares of the technology company's stock worth $80,589,000 after acquiring an additional 85,689 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in shares of MakeMyTrip by 11.6% in the 4th quarter. Wasatch Advisors LP now owns 534,342 shares of the technology company's stock worth $59,996,000 after acquiring an additional 55,361 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

Analysts Set New Price Targets

MMYT has been the topic of several research analyst reports. Citigroup dropped their target price on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

MakeMyTrip Trading Up 4.5%

MMYT stock traded up $4.29 during midday trading on Friday, hitting $98.61. 1,300,762 shares of the company's stock were exchanged, compared to its average volume of 1,127,058. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00. The business has a 50-day simple moving average of $95.90 and a two-hundred day simple moving average of $99.49. The stock has a market capitalization of $10.97 billion, a PE ratio of 114.66 and a beta of 0.86. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35.

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.