Temasek Holdings Private Ltd purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT – Free Report) during the first quarter, Holdings Channel reports. The firm purchased 1,701,456 shares of the technology company’s stock, valued at approximately $63,447,000.
Several other large investors have also recently modified their holdings of the company. C WorldWide Group Holding A S boosted its stake in MakeMyTrip by 10.2% in the first quarter. C WorldWide Group Holding A S now owns 128,029 shares of the technology company’s stock valued at $4,774,000 after acquiring an additional 11,814 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of MakeMyTrip by 96.4% during the 1st quarter. Bessemer Group Inc. now owns 209,034 shares of the technology company’s stock valued at $7,795,000 after purchasing an additional 102,624 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of MakeMyTrip by 43.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock worth $51,725,000 after purchasing an additional 413,087 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of MakeMyTrip by 58.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,561 shares of the technology company’s stock worth $1,811,000 after purchasing an additional 17,829 shares in the last quarter. Finally, U S Global Investors Inc. grew its stake in MakeMyTrip by 176.6% during the 1st quarter. U S Global Investors Inc. now owns 140,706 shares of the technology company’s stock worth $5,247,000 after buying an additional 89,836 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on MMYT shares. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. HSBC initiated coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective on the stock. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research report on Saturday, June 27th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Zacks Research raised shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, MakeMyTrip has a consensus rating of “Buy” and an average target price of $86.75.
MakeMyTrip Stock Up 6.1%
Shares of MMYT stock opened at $56.49 on Wednesday. The stock has a market cap of $6.29 billion, a PE ratio of 225.96 and a beta of 0.98. The business has a 50-day simple moving average of $48.83 and a 200-day simple moving average of $52.48. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week 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.
Featured Stories
- Five stocks we like better than MakeMyTrip
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding MMYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MakeMyTrip Limited (NASDAQ:MMYT – Free Report).
Receive News & Ratings for MakeMyTrip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip and related companies with MarketBeat.com's FREE daily email newsletter.
