Virtus Advisers LLC Invests $2.09 Million in MakeMyTrip Limited $MMYT

Key Points

• Virtus Advisers LLC has acquired a new stake in MakeMyTrip Limited, purchasing 21,279 shares valued at approximately $2.1 million, making it the firm's fourth largest position.
• Several institutional investors, including OneDigital Investment Advisors and Gen Wealth Partners, have recently increased their holdings in MakeMyTrip, which is now owned 51.89% by hedge funds and institutional investors.
• Analysts have mixed ratings on MakeMyTrip; while Citigroup maintains a "buy" rating with a price target of $120, Wall Street Zen downgraded the stock from "hold" to "sell."

Virtus Advisers LLC purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,279 shares of the technology company's stock, valued at approximately $2,085,000. MakeMyTrip accounts for 2.7% of Virtus Advisers LLC's holdings, making the stock its 4th largest position.

Several other institutional investors have also added to or reduced their stakes in MMYT. Freedom Investment Management Inc. grew its position in shares of MakeMyTrip by 114.2% during the 1st quarter. Freedom Investment Management Inc. now owns 11,549 shares of the technology company's stock worth $1,132,000 after purchasing an additional 6,157 shares in the last quarter. Quantitative Investment Management LLC bought a new position in shares of MakeMyTrip during the first quarter valued at $696,000. Axiom Investors LLC DE raised its stake in shares of MakeMyTrip by 20.4% during the first quarter. Axiom Investors LLC DE now owns 771,932 shares of the technology company's stock valued at $75,642,000 after acquiring an additional 130,702 shares during the last quarter. Groupe la Francaise bought a new position in shares of MakeMyTrip during the first quarter valued at $6,075,000. Finally, Quantbot Technologies LP acquired a new stake in shares of MakeMyTrip during the first quarter worth $199,000. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Price Performance

MMYT stock traded down $1.70 during midday trading on Friday, reaching $98.75. The company had a trading volume of 538,700 shares, compared to its average volume of 1,018,291. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. MakeMyTrip Limited has a 1 year low of $81.84 and a 1 year high of $123.00. The company has a market capitalization of $10.99 billion, a P/E ratio of 114.83 and a beta of 0.86. The firm has a 50-day moving average price of $96.67 and a 200-day moving average price of $98.87.

Analyst Upgrades and Downgrades

MMYT has been the subject of a number of research reports. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Tuesday, June 24th. Citigroup lowered their price objective on shares of 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 downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $120.00.

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.