Allianz Asset Management GmbH Buys 290,799 Shares of MakeMyTrip Limited $MMYT

Allianz Asset Management GmbH boosted its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 79.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 655,088 shares of the technology company’s stock after purchasing an additional 290,799 shares during the period. Allianz Asset Management GmbH’s holdings in MakeMyTrip were worth $61,316,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MMYT. First Horizon Advisors Inc. bought a new position in shares of MakeMyTrip in the second quarter worth about $43,000. Jones Financial Companies Lllp lifted its stake in MakeMyTrip by 4,420.0% in the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after buying an additional 884 shares during the period. Osaic Holdings Inc. increased its stake in shares of MakeMyTrip by 10.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after acquiring an additional 188 shares during the last quarter. Shilanski & Associates Inc. acquired a new stake in shares of MakeMyTrip in the 2nd quarter valued at approximately $200,000. Finally, Paradice Investment Management LLC acquired a new stake in MakeMyTrip in the third quarter worth $201,000. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $55.46 on Thursday. The stock has a market cap of $6.17 billion, a PE ratio of 115.54, a P/E/G ratio of 1.92 and a beta of 0.64. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a 50-day moving average of $75.38 and a 200-day moving average of $85.94. MakeMyTrip Limited has a 52-week low of $53.09 and a 52-week high of $120.68.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on MMYT shares. Bank of America dropped their target price 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 restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Citigroup decreased 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.33.

About MakeMyTrip

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.