Sumitomo Mitsui DS Asset Management Company Ltd Purchases 19,041 Shares of MakeMyTrip Limited $MMYT

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in MakeMyTrip by acquiring 19,041 shares, marking a 410.5% boost, bringing its total holdings to 23,679 shares valued at approximately $2.32 million.
• MakeMyTrip has seen multiple institutional investments recently, with a significant portion of the company’s stock (51.89%) now owned by institutional investors.
• Analysts have rated MakeMyTrip with a consensus rating of "Buy", with recent price targets fluctuating between $110.00 and $120.00.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 410.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,679 shares of the technology company's stock after acquiring an additional 19,041 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in MakeMyTrip were worth $2,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Invst LLC purchased a new stake in shares of MakeMyTrip during the first quarter valued at $989,000. Rhumbline Advisers boosted its stake in shares of MakeMyTrip by 31.6% during the first quarter. Rhumbline Advisers now owns 2,768 shares of the technology company's stock valued at $271,000 after purchasing an additional 664 shares during the period. USS Investment Management Ltd boosted its stake in shares of MakeMyTrip by 29.5% during the first quarter. USS Investment Management Ltd now owns 271,782 shares of the technology company's stock valued at $26,616,000 after purchasing an additional 61,928 shares during the period. New Vernon Capital Holdings II LLC boosted its stake in shares of MakeMyTrip by 9,699.0% during 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 purchasing an additional 5,090,811 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MakeMyTrip by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company's stock valued at $1,642,000 after purchasing an additional 1,721 shares during the period. Institutional investors own 51.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MMYT. Citigroup lowered their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Tuesday, June 24th. Finally, Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $120.00.

MakeMyTrip Stock Up 0.0%

NASDAQ:MMYT traded up $0.02 during mid-day trading on Monday, reaching $101.86. The company's stock had a trading volume of 670,344 shares, compared to its average volume of 811,029. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The stock has a fifty day moving average of $98.12 and a 200-day moving average of $99.02. The firm has a market capitalization of $11.33 billion, a PE ratio of 118.44 and a beta of 0.87. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35.

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.