Capital International Investors Increases Stock Position in MakeMyTrip Limited $MMYT

Capital International Investors raised its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 22.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,717,783 shares of the technology company’s stock after purchasing an additional 310,627 shares during the period. Capital International Investors owned 1.54% of MakeMyTrip worth $160,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in 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 acquiring an additional 284 shares during the last quarter. Jones Financial Companies Lllp raised 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 valued at $86,000 after purchasing an additional 884 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in MakeMyTrip during the third quarter valued at $168,000. Osaic Holdings Inc. lifted its position in MakeMyTrip by 10.2% during the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after purchasing an additional 188 shares during the last quarter. Finally, Paradice Investment Management LLC purchased a new position in shares of MakeMyTrip in the 3rd quarter worth $201,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Trading Down 2.5%

Shares of NASDAQ MMYT opened at $47.39 on Thursday. The business’s 50 day moving average price is $63.36 and its 200-day moving average price is $78.56. MakeMyTrip Limited has a fifty-two week low of $46.99 and a fifty-two week high of $113.85. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 98.73, a PEG ratio of 1.67 and a beta of 0.64.

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

Wall Street Analyst Weigh In

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

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.