Wasatch Advisors LP Increases Position in MakeMyTrip Limited $MMYT

Key Points

• Wasatch Advisors LP increased its MakeMyTrip stake by 5.7% in the second quarter, purchasing 133,723 additional shares and bringing its total holdings to 2.47 million shares, worth approximately $131.8 million.
• Institutional investors own 51.89% of MakeMyTrip, while the stock opened at $61.41 and has traded between $32.67 and $104.43 over the past year.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $86.75, despite individual ratings ranging from “Strong Buy” to “Sell.”

Wasatch Advisors LP grew its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,473,464 shares of the technology company's stock after purchasing an additional 133,723 shares during the period. Wasatch Advisors LP owned approximately 2.22% of MakeMyTrip worth $131,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of MakeMyTrip in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its stake in MakeMyTrip by 74.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company's stock worth $37,000 after acquiring an additional 422 shares in the last quarter. Parallel Advisors LLC boosted its holdings in MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company's stock valued at $37,000 after acquiring an additional 284 shares during the period. Kestra Advisory Services LLC purchased a new position in MakeMyTrip during the 4th quarter valued at about $46,000. Finally, Rakuten Securities Inc. grew its position in MakeMyTrip by 893.9% in the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company's stock valued at $54,000 after acquiring an additional 590 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Trading Up 0.8%

Shares of MMYT opened at $61.41 on Wednesday. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 511.75 and a beta of 0.98. The firm's fifty day simple moving average is $52.69 and its 200-day simple moving average is $50.26. MakeMyTrip Limited has a twelve month low of $32.67 and a twelve month high of $104.43.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research raised shares of MakeMyTrip from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, July 20th. Citigroup restated a "buy" rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a research note on Saturday, June 27th. Finally, HSBC began coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They set a "buy" rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $86.75.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company's offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India's leading travel technology firms.

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