Artisan Partners Limited Partnership Purchases 166,456 Shares of MakeMyTrip Limited $MMYT

Artisan Partners Limited Partnership grew its position in MakeMyTrip Limited (NASDAQ:MMYT) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,281,492 shares of the technology company’s stock after acquiring an additional 166,456 shares during the quarter. Artisan Partners Limited Partnership owned 2.05% of MakeMyTrip worth $213,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. purchased a new position in shares of MakeMyTrip in the second quarter valued at $43,000. Jones Financial Companies Lllp increased its stake in MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock worth $86,000 after acquiring an additional 884 shares during the last quarter. Osaic Holdings Inc. increased its stake in MakeMyTrip by 10.2% during the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after acquiring an additional 188 shares during the last quarter. Paradice Investment Management LLC purchased a new stake in MakeMyTrip during the third quarter valued at approximately $201,000. Finally, Genus Capital Management Inc. bought a new stake in shares of MakeMyTrip in the 2nd quarter valued at approximately $207,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Up 1.8%

MakeMyTrip stock opened at $57.98 on Friday. MakeMyTrip Limited has a twelve month low of $53.09 and a twelve month high of $113.85. The business has a fifty day moving average of $69.24 and a two-hundred day moving average of $81.64. The firm has a market cap of $6.45 billion, a P/E ratio of 120.79, a P/E/G ratio of 1.96 and a beta of 0.64. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85.

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

Analysts Set New Price Targets

MMYT has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Citigroup decreased their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Finally, Bank of America cut 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. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.33.

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.