Prudential PLC Increases Position in MakeMyTrip Limited $MMYT

Key Points

• Prudential PLC significantly increased its stake in MakeMyTrip Limited by 334.9% during the first quarter, bringing its holdings to 46,913 shares valued at approximately $4.60 million.
• Other institutional investors also made substantial investments, with Mirae Asset Global Investments Co. Ltd. increasing its holdings by a staggering 9,724.0%.
• Analysts have mixed opinions on MakeMyTrip, with Macquarie upgrading the stock to an "outperform" rating while Wall Street Zen downgraded it from "hold" to "sell."

Prudential PLC boosted its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 334.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,913 shares of the technology company's stock after purchasing an additional 36,126 shares during the period. Prudential PLC's holdings in MakeMyTrip were worth $4,597,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MMYT. Allspring Global Investments Holdings LLC lifted its position in shares of MakeMyTrip by 325.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,218 shares of the technology company's stock worth $2,202,000 after buying an additional 17,000 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of MakeMyTrip during the 4th quarter worth about $2,183,000. Squarepoint Ops LLC lifted its position in shares of MakeMyTrip by 103.1% during the 4th quarter. Squarepoint Ops LLC now owns 6,105 shares of the technology company's stock worth $685,000 after buying an additional 3,099 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of MakeMyTrip by 21.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 96,297 shares of the technology company's stock valued at $9,436,000 after purchasing an additional 17,286 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new stake in MakeMyTrip during the first quarter worth about $1,063,000. Institutional investors own 51.89% of the company's stock.

Wall Street Analysts Forecast Growth

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 report on Tuesday, June 24th. Wall Street Zen lowered MakeMyTrip from a "hold" rating to a "sell" rating in a research note 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 on the stock in a research note on Wednesday, July 23rd.

MakeMyTrip Stock Up 0.6%

MMYT traded up $0.62 on Monday, hitting $99.23. 264,897 shares of the company were exchanged, compared to its average volume of 1,039,113. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The stock's fifty day moving average is $95.90 and its 200-day moving average is $99.49. MakeMyTrip Limited has a 12 month low of $81.84 and a 12 month high of $123.00. The company has a market cap of $11.04 billion, a PE ratio of 115.17 and a beta of 0.86.

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.