Federated Hermes Inc. Acquires 222,098 Shares of MakeMyTrip Limited $MMYT

Federated Hermes Inc. boosted its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 145.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 375,093 shares of the technology company’s stock after acquiring an additional 222,098 shares during the quarter. Federated Hermes Inc. owned 0.34% of MakeMyTrip worth $35,109,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. First Horizon Advisors Inc. purchased a new position in shares of MakeMyTrip during the second quarter worth about $43,000. Farther Finance Advisors LLC bought a new position in shares of MakeMyTrip in the 2nd quarter worth $50,000. Signaturefd LLC increased its holdings in shares of MakeMyTrip by 23.3% in the 2nd quarter. Signaturefd LLC now owns 1,147 shares of the technology company’s stock worth $112,000 after buying an additional 217 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after buying an additional 188 shares in the last quarter. Finally, Shilanski & Associates Inc. bought a new stake in shares of MakeMyTrip during the 2nd quarter worth $200,000. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Trading Up 0.5%

NASDAQ:MMYT opened at $62.38 on Friday. The firm has a market capitalization of $6.94 billion, a P/E ratio of 129.96, a P/E/G ratio of 2.13 and a beta of 0.66. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The company has a fifty day moving average of $76.19 and a 200 day moving average of $86.76. MakeMyTrip Limited has a 52 week low of $60.22 and a 52 week high of $120.72.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup reduced their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday. Bank of America decreased their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Finally, Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

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.