Baillie Gifford & Co. Sells 676,069 Shares of MakeMyTrip Limited $MMYT

Baillie Gifford & Co. lessened its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 11.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,040,061 shares of the technology company’s stock after selling 676,069 shares during the period. Baillie Gifford & Co. owned approximately 4.53% of MakeMyTrip worth $471,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp increased its position in MakeMyTrip by 505.3% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 509,939 shares of the technology company’s stock worth $47,730,000 after buying an additional 425,690 shares during the period. Jennison Associates LLC increased its position in MakeMyTrip by 0.6% during the third quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock worth $174,246,000 after acquiring an additional 11,837 shares during the period. Palisades Investment Partners LLC raised its stake in MakeMyTrip by 0.6% during the 3rd quarter. Palisades Investment Partners LLC now owns 117,464 shares of the technology company’s stock valued at $10,995,000 after purchasing an additional 741 shares during the last quarter. Boston Common Asset Management LLC boosted its holdings in MakeMyTrip by 5.6% in the 3rd quarter. Boston Common Asset Management LLC now owns 26,127 shares of the technology company’s stock valued at $2,445,000 after purchasing an additional 1,397 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in MakeMyTrip by 181.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,734 shares of the technology company’s stock worth $69,052,000 after purchasing an additional 475,248 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MMYT. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Weiss Ratings started coverage on MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Citigroup decreased their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Finally, Bank of America reduced their target price on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Four investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Trading Down 5.7%

MMYT stock opened at $62.60 on Friday. MakeMyTrip Limited has a 1-year low of $62.01 and a 1-year high of $120.72. The company has a current ratio of 1.85, a quick ratio of 1.91 and a debt-to-equity ratio of 38.85. The business’s 50 day moving average is $77.34 and its 200-day moving average is $87.81. The firm has a market cap of $6.96 billion, a P/E ratio of 130.42, a P/E/G ratio of 1.84 and a beta of 0.66.

MakeMyTrip (NASDAQ:MMYT) last announced 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. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The business had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. Equities analysts anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal 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.