Steadview Capital Management LLC Has $15.58 Million Stock Position in MakeMyTrip Limited (NASDAQ:MMYT)

Steadview Capital Management LLC increased its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 205.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,000 shares of the technology company's stock after buying an additional 107,000 shares during the quarter. MakeMyTrip accounts for approximately 3.4% of Steadview Capital Management LLC's holdings, making the stock its 8th largest holding. Steadview Capital Management LLC owned 0.14% of MakeMyTrip worth $15,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its stake in MakeMyTrip by 41.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company's stock valued at $43,000 after buying an additional 111 shares in the last quarter. Parallel Advisors LLC lifted its position in MakeMyTrip by 1,014.9% in the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after acquiring an additional 477 shares in the last quarter. Signaturefd LLC bought a new stake in shares of MakeMyTrip in the fourth quarter valued at about $74,000. Gen Wealth Partners Inc boosted its position in shares of MakeMyTrip by 29.5% during the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after buying an additional 165 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of MakeMyTrip during the first quarter worth about $107,000. 51.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MMYT shares. Citigroup boosted their target price on MakeMyTrip from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Macquarie upgraded 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 raised MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th.

MakeMyTrip Stock Down 1.3%

Shares of NASDAQ:MMYT traded down $1.24 during midday trading on Thursday, hitting $92.12. The stock had a trading volume of 1,230,468 shares, compared to its average volume of 827,855. The company has a market cap of $10.25 billion, a P/E ratio of 110.99 and a beta of 0.85. MakeMyTrip Limited has a 12 month low of $76.95 and a 12 month high of $123.00. The business's 50-day simple moving average is $100.41 and its 200-day simple moving average is $102.29. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.01.

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.