Aberdeen Group plc Grows Position in MakeMyTrip Limited $MMYT

Aberdeen Group plc grew its position in MakeMyTrip Limited (NASDAQ:MMYT) by 21.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,177 shares of the technology company’s stock after acquiring an additional 45,100 shares during the quarter. Aberdeen Group plc owned 0.23% of MakeMyTrip worth $21,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Schroder Investment Management Group raised its stake in MakeMyTrip by 12.2% during the third quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company’s stock valued at $591,269,000 after purchasing an additional 688,957 shares in the last quarter. Man Group plc lifted its holdings in shares of MakeMyTrip by 6,434.6% in the 2nd quarter. Man Group plc now owns 632,747 shares of the technology company’s stock worth $62,022,000 after acquiring an additional 623,064 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in MakeMyTrip by 233.0% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock valued at $80,980,000 after acquiring an additional 605,388 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of MakeMyTrip by 140.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after acquiring an additional 555,620 shares in the last quarter. Finally, Fullerton Fund Management Co Ltd. raised its holdings in shares of MakeMyTrip by 343.1% in the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 690,787 shares of the technology company’s stock valued at $67,711,000 after purchasing an additional 534,887 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Price Performance

Shares of MMYT opened at $39.84 on Monday. The firm’s fifty day simple moving average is $51.27 and its 200-day simple moving average is $71.43. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 83.00, a PEG ratio of 1.53 and a beta of 0.83. MakeMyTrip Limited has a twelve month low of $32.67 and a twelve month high of $113.85. 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 announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. Equities analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup lowered their target price 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. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Bank of America lowered their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Finally, Wall Street Zen raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.