MakeMyTrip Limited $MMYT is Coronation Fund Managers Ltd.’s 6th Largest Position

Coronation Fund Managers Ltd. increased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 233.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 865,168 shares of the technology company’s stock after purchasing an additional 605,388 shares during the quarter. MakeMyTrip accounts for 4.2% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 6th biggest holding. Coronation Fund Managers Ltd. owned approximately 0.78% of MakeMyTrip worth $80,980,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MakeMyTrip by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock worth $1,642,000 after buying an additional 1,721 shares during the last quarter. US Bancorp DE raised its position in MakeMyTrip by 14.9% during the second quarter. US Bancorp DE now owns 7,071 shares of the technology company’s stock worth $693,000 after acquiring an additional 919 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of MakeMyTrip by 54.3% in the second quarter. Aberdeen Group plc now owns 5,389 shares of the technology company’s stock valued at $528,000 after purchasing an additional 1,897 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of MakeMyTrip by 54.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,486 shares of the technology company’s stock valued at $1,420,000 after purchasing an additional 5,098 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of MakeMyTrip by 642.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 164,953 shares of the technology company’s stock worth $15,626,000 after purchasing an additional 142,735 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

MMYT has been the topic of a number of recent research reports. Bank of America reduced their target price on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Citigroup dropped their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Finally, Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $56.25 on Friday. The stock has a fifty day moving average price of $73.42 and a 200 day moving average price of $83.88. MakeMyTrip Limited has a 52 week low of $53.09 and a 52 week high of $113.85. The firm has a market capitalization of $6.26 billion, a P/E ratio of 117.19, a PEG ratio of 1.93 and a beta of 0.64. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. Equities research analysts anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

MakeMyTrip Company 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.