S Bank Fund Management Ltd Purchases New Holdings in MakeMyTrip Limited $MMYT

Key Points

• S Bank Fund Management Ltd acquired a new stake in MakeMyTrip Limited, purchasing 19,000 shares valued at approximately $1.86 million during the second quarter.
• A significant increase in ownership occurred as several large investors, including Mirae Asset Global Investments Co. Ltd., boosted their stakes in MakeMyTrip by thousands of percentage points.
• Analysts have mixed ratings on the stock, with Citigroup lowering its price target from $125 to $120 and Macquarie upgrading it from "neutral" to "outperform," indicating varying outlooks on MakeMyTrip's future performance.

S Bank Fund Management Ltd purchased a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,000 shares of the technology company's stock, valued at approximately $1,862,000.

Several other large investors have also recently bought and sold shares of MMYT. Mirae Asset Global Investments Co. Ltd. boosted its position in MakeMyTrip by 9,724.0% during 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 during the last quarter. New Vernon Capital Holdings II LLC raised its stake in MakeMyTrip by 9,699.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company's stock valued at $503,992,000 after buying an additional 5,090,811 shares during the period. Baillie Gifford & Co. raised its stake in MakeMyTrip by 40.0% in 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 raised its stake in MakeMyTrip by 273.2% in 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. Finally, Ninety One UK Ltd raised its stake in MakeMyTrip by 1,586.6% in the first quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock valued at $75,732,000 after buying an additional 727,030 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MMYT. Citigroup dropped their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen lowered MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Finally, Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MakeMyTrip has an average rating of "Buy" and a consensus price target of $120.00.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $90.40 on Thursday. The firm has a market cap of $10.06 billion, a P/E ratio of 105.12 and a beta of 0.81. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. MakeMyTrip Limited has a 1-year low of $81.84 and a 1-year high of $123.00. The business's 50 day moving average is $97.20 and its 200-day moving average is $98.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.