Sustainable Growth Advisers LP increased its stake in MakeMyTrip Limited (NASDAQ:MMYT – Free Report) by 51.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,984 shares of the technology company’s stock after buying an additional 30,830 shares during the quarter. Sustainable Growth Advisers LP’s holdings in MakeMyTrip were worth $7,472,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in shares of MakeMyTrip in the 4th quarter worth approximately $29,000. Parallel Advisors LLC grew its stake in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after buying an additional 284 shares during the last quarter. Stone House Investment Management LLC grew its stake in shares of MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after buying an additional 200 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of MakeMyTrip by 893.9% in the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after buying an additional 590 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of MakeMyTrip by 4,420.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock worth $86,000 after buying an additional 884 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on MMYT shares. Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.00.
MakeMyTrip Price Performance
NASDAQ MMYT opened at $47.32 on Tuesday. The business’s fifty day moving average price is $43.81 and its 200-day moving average price is $59.32. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 189.28 and a beta of 1.03. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99.
About MakeMyTrip
MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.
Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.
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