MakeMyTrip Limited $MMYT Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. boosted its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 96.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 209,034 shares of the technology company’s stock after acquiring an additional 102,624 shares during the quarter. Bessemer Group Inc. owned 0.19% of MakeMyTrip worth $7,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Leonteq Securities AG acquired a new position in MakeMyTrip during the fourth quarter worth $29,000. Parallel Advisors LLC grew its position in shares of MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of MakeMyTrip in the fourth quarter valued at about $46,000. Stone House Investment Management LLC increased its stake in shares of MakeMyTrip by 50.0% during the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares in the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after purchasing an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MMYT. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research note on Saturday, June 27th. Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. HSBC initiated coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MakeMyTrip has a consensus rating of “Moderate Buy” and an average price target of $86.75.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $54.62 on Monday. The firm has a 50-day simple moving average of $48.46 and a 200-day simple moving average of $52.87. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 218.48 and a beta of 0.98. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $104.99.

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.