Stanley Laman Group Ltd. Invests $980,000 in MakeMyTrip Limited $MMYT

Key Points

• Stanley Laman Group Ltd. has invested approximately $980,000 in MakeMyTrip Limited by acquiring 10,000 shares during the 2nd quarter.
• MakeMyTrip's stock has recently seen mixed analyst ratings, with Wall Street Zen downgrading it from a "hold" to a "sell," while Citigroup maintains a "buy" rating with a revised price target of $120.00.
• Institutional investors currently own 51.89% of MakeMyTrip's stock, reflecting significant interest from major financial entities.

Stanley Laman Group Ltd. acquired a new stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the technology company's stock, valued at approximately $980,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC increased its stake in shares of MakeMyTrip by 23.3% in the second quarter. Signaturefd LLC now owns 1,147 shares of the technology company's stock valued at $112,000 after purchasing an additional 217 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in MakeMyTrip by 5.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,638 shares of the technology company's stock worth $454,000 after buying an additional 241 shares in the last quarter. IFP Advisors Inc increased its position in MakeMyTrip by 3.0% in the 2nd quarter. IFP Advisors Inc now owns 9,239 shares of the technology company's stock valued at $906,000 after acquiring an additional 266 shares during the period. Haven Private LLC raised its stake in MakeMyTrip by 3.4% during the 1st quarter. Haven Private LLC now owns 8,776 shares of the technology company's stock valued at $860,000 after acquiring an additional 286 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in MakeMyTrip during the 1st quarter valued at $28,000. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Trading Up 0.9%

Shares of MMYT stock opened at $89.02 on Friday. The stock has a 50-day simple moving average of $96.94 and a 200 day simple moving average of $98.31. The stock has a market capitalization of $9.90 billion, a P/E ratio of 103.51 and a beta of 0.81. MakeMyTrip Limited has a fifty-two week low of $81.84 and a fifty-two week 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.

Analysts Set New Price Targets

MMYT has been the subject of several recent analyst reports. Wall Street Zen cut MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Citigroup reduced their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $120.00.

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.

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