Carmignac Gestion Boosts Stock Holdings in MakeMyTrip Limited $MMYT

Carmignac Gestion raised its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 32.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,452 shares of the technology company’s stock after purchasing an additional 10,024 shares during the quarter. Carmignac Gestion’s holdings in MakeMyTrip were worth $2,156,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Leonteq Securities AG purchased a new position in shares of MakeMyTrip in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC boosted its holdings in MakeMyTrip by 74.3% in the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after acquiring an additional 422 shares during the last quarter. Parallel Advisors LLC grew its position in MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares during the period. Kestra Advisory Services LLC purchased a new stake in MakeMyTrip during the fourth quarter valued at about $46,000. Finally, Rockefeller Capital Management L.P. increased its stake in MakeMyTrip by 416.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after acquiring an additional 546 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MMYT. HSBC initiated coverage on MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Zacks Research lowered shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. 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 and two have issued a Hold rating to the company. According to data from MarketBeat, MakeMyTrip presently has a consensus rating of “Moderate Buy” and an average price target of $86.75.

MakeMyTrip Stock Down 3.1%

Shares of NASDAQ MMYT traded down $1.72 on Tuesday, hitting $53.90. The company had a trading volume of 751,565 shares, compared to its average volume of 1,322,741. MakeMyTrip Limited has a 12-month low of $32.67 and a 12-month high of $103.24. The business has a 50 day moving average of $57.62 and a two-hundred day moving average of $50.14. The firm has a market capitalization of $5.07 billion, a P/E ratio of 449.17 and a beta of 1.00.

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.