MakeMyTrip Limited $MMYT Holdings Lifted by Steadview Capital Management LLC

Steadview Capital Management LLC lifted its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 24.9% in the 2nd quarter, Holdings Channel reports. The fund owned 198,600 shares of the technology company’s stock after buying an additional 39,600 shares during the quarter. MakeMyTrip accounts for approximately 2.8% of Steadview Capital Management LLC’s holdings, making the stock its 8th largest position. Steadview Capital Management LLC’s holdings in MakeMyTrip were worth $19,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in MakeMyTrip by 48.1% during the first quarter. Envestnet Asset Management Inc. now owns 30,091 shares of the technology company’s stock worth $2,949,000 after purchasing an additional 9,777 shares during the period. Signaturefd LLC grew its stake in MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company’s stock valued at $91,000 after buying an additional 270 shares in the last quarter. Csenge Advisory Group raised its stake in shares of MakeMyTrip by 31.2% during the 1st quarter. Csenge Advisory Group now owns 5,455 shares of the technology company’s stock valued at $564,000 after purchasing an additional 1,296 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of MakeMyTrip by 22.6% in the first quarter. Allianz Asset Management GmbH now owns 391,608 shares of the technology company’s stock worth $38,374,000 after buying an additional 72,292 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new position in shares of MakeMyTrip during the 1st quarter valued at $2,383,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Price Performance

MMYT opened at $73.82 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 38.85. The stock has a market capitalization of $8.21 billion, a P/E ratio of 115.35 and a beta of 0.87. The stock has a 50-day moving average price of $88.91 and a 200-day moving average price of $95.34. MakeMyTrip Limited has a 12-month low of $72.94 and a 12-month high of $123.00.

Analysts Set New Price Targets

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