Soros Fund Management LLC boosted its position in MakeMyTrip Limited (NASDAQ:MMYT) by 12.6% during the first quarter, Holdings Channel reports. The institutional investor owned 769,358 shares of the technology company’s stock after buying an additional 85,900 shares during the period. Soros Fund Management LLC’s holdings in MakeMyTrip Limited were worth $26,620,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in MakeMyTrip Limited during the fourth quarter worth approximately $2,135,000. Manning & Napier Advisors LLC purchased a new stake in MakeMyTrip Limited during the first quarter worth approximately $26,476,000. Janus Capital Management LLC increased its stake in MakeMyTrip Limited by 25.7% in the fourth quarter. Janus Capital Management LLC now owns 2,164,259 shares of the technology company’s stock worth $48,047,000 after buying an additional 442,877 shares in the last quarter. Comerica Bank purchased a new stake in MakeMyTrip Limited during the fourth quarter worth approximately $2,056,000. Finally, Baillie Gifford & Co. purchased a new stake in MakeMyTrip Limited during the first quarter worth approximately $80,600,000. 42.12% of the stock is currently owned by institutional investors.
Shares of MakeMyTrip Limited (MMYT) traded up 1.16% during midday trading on Friday, hitting $30.40. The stock had a trading volume of 527,534 shares. The stock’s market capitalization is $2.37 billion. The stock has a 50 day moving average price of $34.49 and a 200-day moving average price of $31.88. MakeMyTrip Limited has a 52 week low of $13.69 and a 52 week high of $40.90.
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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research raised MakeMyTrip Limited from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Saturday, May 6th. BidaskClub lowered MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Nomura reaffirmed a “reduce” rating on shares of MakeMyTrip Limited in a research report on Tuesday, February 21st. Finally, ValuEngine raised MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $29.90.
MakeMyTrip Limited Company Profile
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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