Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in MakeMyTrip Limited $MMYT

Mitsubishi UFJ Trust & Banking Corp increased its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 505.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 509,939 shares of the technology company’s stock after purchasing an additional 425,690 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.46% of MakeMyTrip worth $47,730,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new position in MakeMyTrip in the 2nd quarter worth about $43,000. Farther Finance Advisors LLC purchased a new position in MakeMyTrip during the second quarter valued at approximately $50,000. Signaturefd LLC increased its holdings in MakeMyTrip by 23.3% during the 2nd quarter. Signaturefd LLC now owns 1,147 shares of the technology company’s stock worth $112,000 after acquiring an additional 217 shares during the period. Osaic Holdings Inc. increased its holdings in MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after acquiring an additional 188 shares during the period. Finally, Shilanski & Associates Inc. purchased a new stake in MakeMyTrip in the 2nd quarter worth approximately $200,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock opened at $62.60 on Friday. The firm has a market capitalization of $6.96 billion, a PE ratio of 130.42, a price-to-earnings-growth ratio of 1.74 and a beta of 0.66. The company has a current ratio of 1.85, a quick ratio of 1.91 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a 12 month low of $62.01 and a 12 month high of $120.72. The business’s 50-day moving average price is $77.34 and its 200-day moving average price is $87.76.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results 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 business had revenue of $295.70 million during the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. Sell-side analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

MMYT has been the topic of a number of recent analyst reports. Weiss Ratings began coverage on MakeMyTrip in a research report on Thursday, October 30th. They issued a “hold (c)” rating on the stock. Citigroup dropped their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America cut their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.