Carrhae Capital LLP Increases Stock Position in MakeMyTrip Limited $MMYT

Carrhae Capital LLP boosted its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 47.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 221,385 shares of the technology company’s stock after buying an additional 70,823 shares during the period. MakeMyTrip makes up 0.3% of Carrhae Capital LLP’s investment portfolio, making the stock its 23rd largest position. Carrhae Capital LLP’s holdings in MakeMyTrip were worth $11,798,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Carmignac Gestion increased its holdings in shares of MakeMyTrip by 32.9% in the 2nd quarter. Carmignac Gestion now owns 40,452 shares of the technology company’s stock worth $2,156,000 after purchasing an additional 10,024 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of MakeMyTrip during the second quarter valued at $1,704,000. Flossbach Von Storch SE purchased a new stake in shares of MakeMyTrip during the second quarter valued at $2,664,000. Wasatch Advisors LP boosted its position in shares of MakeMyTrip by 5.7% during the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after buying an additional 133,723 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in shares of MakeMyTrip during the second quarter valued at $249,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MMYT has been the topic of several research analyst reports. HSBC assumed coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price on the stock. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a report on Saturday, June 27th. Zacks Research downgraded shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.75.

MakeMyTrip Stock Down 3.1%

NASDAQ:MMYT traded down $1.72 during trading hours on Tuesday, hitting $53.90. 751,565 shares of the stock traded hands, compared to its average volume of 1,322,741. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 449.17 and a beta of 1.00. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $103.24. The stock has a 50 day moving average price of $57.62 and a 200 day moving average price of $50.14.

MakeMyTrip Company Profile

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.