Royal Bank of Canada boosted its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT – Free Report) by 53.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,498,642 shares of the technology company’s stock after acquiring an additional 1,223,963 shares during the period. Royal Bank of Canada owned 3.14% of MakeMyTrip worth $130,464,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of MMYT. Capital Research Global Investors bought a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $150,069,000. Temasek Holdings Private Ltd purchased a new position in shares of MakeMyTrip during the first quarter valued at approximately $63,447,000. Norges Bank bought a new stake in shares of MakeMyTrip in the 4th quarter worth approximately $90,284,000. Wasatch Advisors LP boosted its position in shares of MakeMyTrip by 64.2% in the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock worth $87,249,000 after purchasing an additional 914,402 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of MakeMyTrip by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after buying an additional 869,728 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.
Wall Street Analysts Forecast Growth
MMYT has been the subject of a number of analyst reports. HSBC initiated coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective for the company. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 20th. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a report on Saturday, June 27th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Finally, Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, MakeMyTrip has a consensus rating of “Buy” and an average target price of $86.75.
MakeMyTrip Stock Down 0.1%
Shares of NASDAQ MMYT opened at $57.08 on Friday. MakeMyTrip Limited has a twelve month low of $32.67 and a twelve month high of $104.43. The firm has a market cap of $6.35 billion, a P/E ratio of 228.32 and a beta of 0.98. The company has a 50 day moving average of $50.20 and a 200 day moving average of $51.05.
MakeMyTrip Profile
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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