MayTech Global Investments LLC Has $4.58 Million Position in MakeMyTrip Limited (MMYT)
MayTech Global Investments LLC increased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,554 shares of the technology company’s stock after acquiring an additional 2,493 shares during the quarter. MakeMyTrip comprises approximately 2.6% of MayTech Global Investments LLC’s holdings, making the stock its 18th biggest position. MayTech Global Investments LLC owned about 0.12% of MakeMyTrip worth $4,575,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its position in shares of MakeMyTrip by 11.0% in the second quarter. Brown Advisory Inc. now owns 1,047,147 shares of the technology company’s stock valued at $37,855,000 after buying an additional 104,008 shares in the last quarter. GAM Holding AG purchased a new stake in shares of MakeMyTrip in the second quarter valued at approximately $612,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of MakeMyTrip in the second quarter valued at approximately $4,738,000. Wasatch Advisors Inc. increased its position in shares of MakeMyTrip by 0.7% in the second quarter. Wasatch Advisors Inc. now owns 2,102,673 shares of the technology company’s stock valued at $76,012,000 after buying an additional 15,604 shares in the last quarter. Finally, CWM LLC purchased a new stake in shares of MakeMyTrip in the second quarter valued at approximately $3,405,000. 42.99% of the stock is owned by institutional investors.
Shares of MMYT opened at $31.05 on Friday. MakeMyTrip Limited has a one year low of $22.40 and a one year high of $41.70. The company has a market cap of $3.16 billion, a P/E ratio of -14.24 and a beta of -0.07.
A number of analysts have recently commented on the company. BidaskClub cut MakeMyTrip from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Friday, June 15th. Jefferies Financial Group upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 price objective for the company in a research report on Wednesday, August 15th. Goldman Sachs Group cut MakeMyTrip from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Tuesday, June 12th. They noted that the move was a valuation call. Finally, ValuEngine upgraded MakeMyTrip from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.22.
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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