Franklin Resources Inc. Raises Stock Position in MakeMyTrip Limited $MMYT

Franklin Resources Inc. increased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 30.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,042,793 shares of the technology company’s stock after acquiring an additional 471,274 shares during the quarter. Franklin Resources Inc. owned about 1.84% of MakeMyTrip worth $200,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MMYT. E Fund Management Co. Ltd. increased its position in shares of MakeMyTrip by 345.1% during the first quarter. E Fund Management Co. Ltd. now owns 14,004 shares of the technology company’s stock worth $1,372,000 after purchasing an additional 10,858 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of MakeMyTrip in the 2nd quarter worth $30,005,000. Totem Point Management LLC grew its stake in MakeMyTrip by 36.6% during the 1st quarter. Totem Point Management LLC now owns 45,879 shares of the technology company’s stock worth $4,496,000 after buying an additional 12,302 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in MakeMyTrip by 11.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 800,033 shares of the technology company’s stock valued at $78,395,000 after buying an additional 82,282 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in MakeMyTrip by 21.9% during the 1st quarter. Jupiter Asset Management Ltd. now owns 96,297 shares of the technology company’s stock valued at $9,436,000 after buying an additional 17,286 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Up 2.0%

Shares of MMYT stock opened at $74.26 on Friday. The stock’s 50-day simple moving average is $87.44 and its 200-day simple moving average is $94.63. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $8.26 billion, a PE ratio of 116.03 and a beta of 0.87. MakeMyTrip Limited has a fifty-two week low of $71.04 and a fifty-two week high of $123.00.

Analysts Set New Price Targets

MMYT has been the subject of several recent analyst reports. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings began coverage on shares of MakeMyTrip in a research report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.