Man Group plc Buys 521,415 Shares of MakeMyTrip Limited $MMYT

Man Group plc raised its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,381,728 shares of the technology company’s stock after acquiring an additional 521,415 shares during the quarter. Man Group plc owned approximately 1.24% of MakeMyTrip worth $113,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Schroder Investment Management Group boosted its position 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 acquiring an additional 869,728 shares in the last quarter. Baillie Gifford & Co. boosted its position in MakeMyTrip by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after acquiring an additional 114,975 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MakeMyTrip by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock valued at $201,064,000 after purchasing an additional 371,066 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of MakeMyTrip by 1.8% during the 4th 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 during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of MakeMyTrip by 780.3% during the 4th quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after purchasing an additional 2,016,281 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Five 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.00.

MakeMyTrip Stock Performance

Shares of MMYT opened at $45.45 on Thursday. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $104.99. The stock has a fifty day moving average price of $44.93 and a 200-day moving average price of $56.78. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 38.85. The firm has a market cap of $5.06 billion, a PE ratio of 181.80 and a beta of 1.01.

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.