Wolverine Asset Management LLC Acquires Shares of 3,342 MakeMyTrip Limited (NASDAQ:MMYT)

Key Points

• Wolverine Asset Management LLC acquired 3,342 shares of MakeMyTrip Limited, valued at approximately $327,000, during the first quarter.
• Multiple hedge funds increased their holdings in MakeMyTrip, with Allspring Global Investments raising its stake by 325.8%.
• Analysts have mixed ratings on MakeMyTrip, with Citigroup lowering its price target to $120.00 while Macquarie upgraded it to an "outperform" rating with a price objective of $110.00.

Wolverine Asset Management LLC acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,342 shares of the technology company's stock, valued at approximately $327,000.

Several other large investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $2,364,732,000 after buying an additional 23,886,735 shares during the last quarter. Baillie Gifford & Co. increased its holdings in MakeMyTrip by 40.0% during the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock worth $505,158,000 after buying an additional 1,471,660 shares during the last quarter. Ninety One UK Ltd increased its holdings in MakeMyTrip by 1,586.6% during the first quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company's stock worth $75,732,000 after buying an additional 727,030 shares during the last quarter. Ninety One North America Inc. purchased a new stake in MakeMyTrip during the first quarter worth about $18,737,000. Finally, Carrhae Capital LLP increased its stake in shares of MakeMyTrip by 88.6% in the first quarter. Carrhae Capital LLP now owns 397,945 shares of the technology company's stock worth $38,995,000 after purchasing an additional 186,995 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup reduced 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 upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

MakeMyTrip Price Performance

NASDAQ MMYT traded up $1.15 on Tuesday, reaching $95.68. 422,477 shares of the company's stock traded hands, compared to its average volume of 1,233,843. The stock has a market cap of $10.65 billion, a PE ratio of 111.26 and a beta of 0.86. 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 12 month low of $81.84 and a 12 month high of $123.00. The stock has a 50-day simple moving average of $96.19 and a 200 day simple moving average of $99.79.

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.