Schroder Investment Management Group Raises Stake in MakeMyTrip Limited $MMYT

Schroder Investment Management Group raised its position in MakeMyTrip Limited (NASDAQ:MMYT) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,316,976 shares of the technology company’s stock after purchasing an additional 688,957 shares during the period. Schroder Investment Management Group owned 5.68% of MakeMyTrip worth $591,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MakeMyTrip by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after buying an additional 1,721 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of MakeMyTrip by 27.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,323 shares of the technology company’s stock worth $3,756,000 after acquiring an additional 8,232 shares in the last quarter. Atria Investments Inc boosted its position in shares of MakeMyTrip by 5.8% during the 2nd quarter. Atria Investments Inc now owns 4,705 shares of the technology company’s stock worth $461,000 after acquiring an additional 256 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in shares of MakeMyTrip in the 2nd quarter valued at about $43,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth about $8,258,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Trading Down 1.5%

NASDAQ:MMYT opened at $52.12 on Monday. The company has a market capitalization of $5.80 billion, a PE ratio of 108.58, a P/E/G ratio of 1.79 and a beta of 0.64. MakeMyTrip Limited has a 52-week low of $48.20 and a 52-week high of $113.85. The stock’s 50 day moving average price is $65.37 and its 200 day moving average price is $79.52. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MMYT shares. Citigroup decreased their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Bank of America cut 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 restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Finally, Weiss Ratings reaffirmed 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 issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

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.