Ninety One UK Ltd Increases Holdings in MakeMyTrip Limited (NASDAQ:MMYT)

Ninety One UK Ltd raised its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 1,586.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 772,853 shares of the technology company's stock after buying an additional 727,030 shares during the period. Ninety One UK Ltd owned about 0.70% of MakeMyTrip worth $75,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its position in shares of MakeMyTrip by 41.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company's stock worth $43,000 after purchasing an additional 111 shares in the last quarter. Parallel Advisors LLC increased its position in shares of MakeMyTrip by 1,014.9% during the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after purchasing an additional 477 shares in the last quarter. Signaturefd LLC acquired a new stake in shares of MakeMyTrip during the fourth quarter worth about $74,000. Gen Wealth Partners Inc increased 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 purchasing an additional 165 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of MakeMyTrip during the first quarter worth about $107,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MMYT has been the topic of a number of research analyst reports. Citigroup lifted their target price on MakeMyTrip from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Tuesday, June 24th.

MakeMyTrip Stock Performance

MMYT traded down $1.26 during trading on Friday, reaching $90.86. The company's stock had a trading volume of 1,529,144 shares, compared to its average volume of 831,276. MakeMyTrip Limited has a 52-week low of $76.95 and a 52-week high of $123.00. The company's fifty day moving average price is $100.10 and its 200-day moving average price is $102.12. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 109.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85.

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.