Kornitzer Capital Management Inc. KS Invests $6.37 Million in MakeMyTrip Limited $MMYT

Kornitzer Capital Management Inc. KS bought a new position in MakeMyTrip Limited (NASDAQ:MMYT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 65,000 shares of the technology company’s stock, valued at approximately $6,371,000.

Several other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of MakeMyTrip by 9,724.0% in 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 acquiring an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of MakeMyTrip by 40.0% in the first 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. New Vernon Capital Holdings II LLC increased its position in shares of MakeMyTrip by 9,699.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock worth $503,992,000 after acquiring an additional 5,090,811 shares in the last quarter. GQG Partners LLC increased its position in shares of MakeMyTrip by 273.2% in the first 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. Finally, American Century Companies Inc. increased its position in shares of MakeMyTrip by 5.2% in the first quarter. American Century Companies Inc. now owns 1,336,008 shares of the technology company’s stock worth $130,915,000 after acquiring an additional 66,614 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

Shares of MMYT opened at $89.70 on Friday. The company’s 50 day moving average price is $96.34 and its 200 day moving average price is $98.30. MakeMyTrip Limited has a 52 week low of $81.84 and a 52 week high of $123.00. The company has a market capitalization of $9.98 billion, a PE ratio of 104.30 and a beta of 0.81. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MMYT shares. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Citigroup dropped their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, MakeMyTrip has an average 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.