Y Intercept Hong Kong Ltd Purchases New Position in MakeMyTrip Limited $MMYT

Y Intercept Hong Kong Ltd acquired a new position in MakeMyTrip Limited (NASDAQ:MMYT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 199,010 shares of the technology company’s stock, valued at approximately $7,421,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMYT. Schroder Investment Management Group boosted its stake in MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after purchasing an additional 869,728 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of MakeMyTrip by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after purchasing an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MakeMyTrip by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after purchasing an additional 371,066 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of MakeMyTrip by 64.2% during the first quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock valued at $87,249,000 after purchasing an additional 914,402 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of MakeMyTrip by 1.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after purchasing an additional 40,712 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research cut shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. HSBC started coverage on shares of MakeMyTrip in a report on Thursday. They set a “buy” rating and a $70.00 price target on the stock. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research report on Saturday, June 27th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.75.

MakeMyTrip Price Performance

Shares of MMYT opened at $58.27 on Friday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 233.08 and a beta of 0.98. MakeMyTrip Limited has a one year low of $32.67 and a one year high of $104.99. The business has a fifty day moving average of $46.64 and a 200 day moving average of $55.05.

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.