MakeMyTrip Limited (NASDAQ:MMYT) Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in MakeMyTrip Limited by 21.9% during Q1, now owning 96,297 shares valued at approximately $9.4 million.
• Mirae Asset Global Investments made a significant investment, boosting its position in MakeMyTrip by 9,724.0% in the same quarter, now holding shares worth over $2.36 billion.
• Analysts have shown mixed sentiments, with Citigroup lowering its target price from $125 to $120 while Macquarie upgraded its rating to "outperform" with a $110 target price.

Jupiter Asset Management Ltd. lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 21.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,297 shares of the technology company's stock after purchasing an additional 17,286 shares during the period. Jupiter Asset Management Ltd. owned 0.09% of MakeMyTrip worth $9,436,000 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 MMYT. Parallel Advisors LLC grew its position in MakeMyTrip by 1,014.9% in the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after acquiring an additional 477 shares in the last quarter. Gen Wealth Partners Inc grew its position 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 buying an additional 165 shares in the last quarter. Signaturefd LLC lifted its holdings in MakeMyTrip by 40.9% during the first quarter. Signaturefd LLC now owns 930 shares of the technology company's stock worth $91,000 after buying an additional 270 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of MakeMyTrip in the 1st quarter worth approximately $107,000. Finally, Quadrant Capital Group LLC purchased a new position in MakeMyTrip during the 4th quarter worth $125,000. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Price Performance

MMYT stock traded up $3.15 during mid-day trading on Thursday, reaching $96.13. 546,003 shares of the company's stock were exchanged, compared to its average volume of 1,056,430. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 111.78 and a beta of 0.86. The stock's 50 day moving average is $96.76 and its 200 day moving average is $100.12. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00.

Analyst Upgrades and Downgrades

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

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.