Sustainable Growth Advisers LP Acquires New Stake in MakeMyTrip Limited $MMYT

Sustainable Growth Advisers LP bought a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 55,579 shares of the technology company’s stock, valued at approximately $5,448,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MMYT. Baillie Gifford & Co. lifted its stake in 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 purchasing an additional 1,471,660 shares during the last quarter. New Vernon Capital Holdings II LLC increased its holdings 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 buying an additional 5,090,811 shares during the period. GQG Partners LLC increased its holdings 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 buying an additional 1,470,985 shares during the period. Jennison Associates LLC lifted its stake in shares of MakeMyTrip by 38.0% in the 2nd quarter. Jennison Associates LLC now owns 1,849,767 shares of the technology company’s stock valued at $181,314,000 after acquiring an additional 509,638 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in MakeMyTrip by 5.2% during the 1st quarter. American Century Companies Inc. now owns 1,336,008 shares of the technology company’s stock valued at $130,915,000 after acquiring an additional 66,614 shares during the period. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Up 0.2%

NASDAQ:MMYT opened at $76.21 on Friday. The firm has a 50-day simple moving average of $89.92 and a two-hundred day simple moving average of $95.97. The firm has a market cap of $8.48 billion, a P/E ratio of 119.08 and a beta of 0.87. MakeMyTrip Limited has a fifty-two week low of $74.64 and a fifty-two week high of $123.00. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.91 and a current ratio of 1.91.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MMYT. Weiss Ratings began coverage on MakeMyTrip in a research report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Citigroup lowered their price objective on MakeMyTrip from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

About MakeMyTrip

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.