Quantitative Investment Management LLC Buys Shares of 7,103 MakeMyTrip Limited $MMYT

Key Points

• Quantitative Investment Management LLC has acquired a new stake in MakeMyTrip Limited, purchasing 7,103 shares valued at approximately $696,000 during the first quarter.
• Several hedge funds have recently increased their positions in MakeMyTrip, contributing to institutional investors owning 51.89% of the company's stock.
• Wall Street analysts have mixed ratings for MakeMyTrip, with price targets ranging from $110.00 to $120.00 while the stock currently has a consensus rating of "Buy."

Quantitative Investment Management LLC bought a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,103 shares of the technology company's stock, valued at approximately $696,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MMYT. Axiom Investors LLC DE lifted its position in MakeMyTrip by 20.4% during the first quarter. Axiom Investors LLC DE now owns 771,932 shares of the technology company's stock worth $75,642,000 after buying an additional 130,702 shares in the last quarter. Groupe la Francaise purchased a new position in MakeMyTrip during the first quarter worth approximately $6,075,000. Quantbot Technologies LP purchased a new position in MakeMyTrip during the first quarter worth approximately $199,000. Summit Securities Group LLC purchased a new position in MakeMyTrip during the first quarter worth approximately $130,000. Finally, American Century Companies Inc. lifted its position in MakeMyTrip by 5.2% during the first quarter. American Century Companies Inc. now owns 1,336,008 shares of the technology company's stock worth $130,915,000 after buying an additional 66,614 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MMYT shares. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Tuesday, June 24th. Citigroup reduced their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of 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, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $120.00.

MakeMyTrip Trading Down 1.7%

Shares of MMYT stock traded down $1.70 during trading on Friday, hitting $98.75. 538,700 shares of the stock traded hands, compared to its average volume of 691,788. The firm has a market capitalization of $10.99 billion, a P/E ratio of 114.83 and a beta of 0.87. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. The firm's fifty day moving average price is $96.81 and its 200-day moving average price is $98.75. MakeMyTrip Limited has a 52-week low of $81.84 and a 52-week high of $123.00.

About MakeMyTrip

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.