Aberdeen Group plc Increases Stake in MakeMyTrip Limited $MMYT

Aberdeen Group plc boosted its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 3,891.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 215,077 shares of the technology company’s stock after purchasing an additional 209,688 shares during the period. Aberdeen Group plc owned approximately 0.19% of MakeMyTrip worth $20,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schroder Investment Management Group grew its holdings in shares of MakeMyTrip by 42.4% during the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock valued at $551,658,000 after buying an additional 1,674,538 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of MakeMyTrip by 12.5% in the second quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock valued at $207,316,000 after purchasing an additional 234,670 shares during the period. Franklin Resources Inc. raised its stake in shares of MakeMyTrip by 30.0% in the second quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock worth $200,235,000 after purchasing an additional 471,274 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of 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 purchasing an additional 11,837 shares during the period. Finally, American Century Companies Inc. boosted its position in MakeMyTrip by 8.3% in the second quarter. American Century Companies Inc. now owns 1,447,280 shares of the technology company’s stock valued at $141,862,000 after buying an additional 111,272 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, January 21st. Bank of America decreased their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Stock Up 0.9%

NASDAQ MMYT opened at $56.74 on Wednesday. The business’s fifty day simple moving average is $72.84 and its 200-day simple moving average is $83.31. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a market cap of $6.31 billion, a PE ratio of 118.21, a P/E/G ratio of 1.93 and a beta of 0.64. MakeMyTrip Limited has a 52 week low of $53.09 and a 52 week high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, equities analysts anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current 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.