Norges Bank Invests $90.28 Million in MakeMyTrip Limited $MMYT

Norges Bank purchased a new position in MakeMyTrip Limited (NASDAQ:MMYT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,099,415 shares of the technology company’s stock, valued at approximately $90,284,000. Norges Bank owned approximately 0.99% of MakeMyTrip at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MMYT. Massachusetts Financial Services Co. MA lifted its stake in shares of MakeMyTrip by 112.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after buying an additional 826,143 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of MakeMyTrip by 12.2% in the third quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company’s stock worth $591,269,000 after buying an additional 688,957 shares in the last quarter. Man Group plc lifted its stake in shares of MakeMyTrip by 6,434.6% in the second quarter. Man Group plc now owns 632,747 shares of the technology company’s stock worth $62,022,000 after buying an additional 623,064 shares in the last quarter. Coronation Fund Managers Ltd. lifted its stake in shares of MakeMyTrip by 233.0% in the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock worth $80,980,000 after buying an additional 605,388 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of MakeMyTrip by 140.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock worth $77,994,000 after buying an additional 555,620 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MMYT shares. Zacks Research downgraded shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. Citigroup restated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.00.

MakeMyTrip Price Performance

MakeMyTrip stock opened at $44.09 on Friday. MakeMyTrip Limited has a 12-month low of $32.67 and a 12-month high of $104.99. The stock has a market cap of $4.91 billion, a P/E ratio of 176.36 and a beta of 1.01. The company has a 50-day moving average price of $44.23 and a 200 day moving average price of $58.56. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 38.85.

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.