MakeMyTrip Limited $MMYT Shares Acquired by PDT Partners LLC

Key Points

• PDT Partners LLC has increased its holdings in MakeMyTrip Limited by 100%, purchasing an additional 24,321 shares during the first quarter, bringing its total to 48,651 shares worth approximately $4.77 million.
• MakeMyTrip stock is currently down 1.7% and has traded between a one-year low of $81.84 and a high of $123.00.
• Analysts have mixed views on MakeMyTrip, with Citigroup lowering its price target from $125 to $120, while Macquarie upgraded the rating and set a new target of $110.

PDT Partners LLC raised its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 100.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,651 shares of the technology company's stock after purchasing an additional 24,321 shares during the period. PDT Partners LLC's holdings in MakeMyTrip were worth $4,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MakeMyTrip by 9,724.0% in 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 purchasing an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of MakeMyTrip by 40.0% during the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock valued at $505,158,000 after buying an additional 1,471,660 shares during the period. GQG Partners LLC lifted its stake in shares of MakeMyTrip by 273.2% during the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company's stock valued at $196,911,000 after buying an additional 1,470,985 shares during the period. American Century Companies Inc. lifted its stake in shares of MakeMyTrip by 5.2% during the first quarter. American Century Companies Inc. now owns 1,336,008 shares of the technology company's stock valued at $130,915,000 after buying an additional 66,614 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of MakeMyTrip by 11.5% during the first quarter. The Manufacturers Life Insurance Company now owns 800,033 shares of the technology company's stock valued at $78,395,000 after buying an additional 82,282 shares during the period. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Trading Up 0.4%

Shares of MMYT stock traded up $0.36 during mid-day trading on Friday, reaching $100.45. The company's stock had a trading volume of 897,012 shares, compared to its average volume of 610,216. The company's 50 day simple moving average is $97.10 and its 200-day simple moving average is $98.67. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35. The firm has a market capitalization of $11.18 billion, a PE ratio of 116.80 and a beta of 0.87.

Analyst Ratings Changes

Several brokerages recently commented on MMYT. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Tuesday, June 24th. Citigroup dropped their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $120.00.

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.