Freedom Investment Management Inc. Acquires 6,157 Shares of MakeMyTrip Limited $MMYT

Freedom Investment Management Inc. lifted its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 114.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,549 shares of the technology company’s stock after purchasing an additional 6,157 shares during the period. Freedom Investment Management Inc.’s holdings in MakeMyTrip were worth $1,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMYT. Mirae Asset Global Investments Co. Ltd. increased its holdings in MakeMyTrip by 9,724.0% in the 1st 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 acquiring an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. increased its holdings in MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company’s stock worth $505,158,000 after acquiring an additional 1,471,660 shares in the last quarter. GQG Partners LLC increased its holdings in MakeMyTrip by 273.2% in the 1st quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company’s stock worth $196,911,000 after acquiring an additional 1,470,985 shares in the last quarter. Ninety One UK Ltd increased its holdings in MakeMyTrip by 1,586.6% in the 1st quarter. Ninety One UK Ltd now owns 772,853 shares of the technology company’s stock worth $75,732,000 after acquiring an additional 727,030 shares in the last quarter. Finally, Ninety One North America Inc. purchased a new stake in MakeMyTrip in the 1st quarter worth approximately $18,737,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Trading Up 2.3%

Shares of MMYT opened at $103.21 on Monday. 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 50 day simple moving average of $96.12 and a two-hundred day simple moving average of $98.97. The firm has a market cap of $11.48 billion, a P/E ratio of 120.01 and a beta of 0.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MMYT shares. Macquarie raised shares of MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Tuesday, June 24th. Citigroup cut their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, MakeMyTrip currently has a consensus rating of “Buy” and an average price target 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.