Schroder Investment Management Group Increases Position in MakeMyTrip Limited $MMYT

Schroder Investment Management Group increased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 12.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,316,976 shares of the technology company’s stock after acquiring an additional 688,957 shares during the period. Schroder Investment Management Group owned approximately 0.06% of MakeMyTrip worth $591,269,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MMYT. Parallel Advisors LLC grew its stake in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of MakeMyTrip during the second quarter worth $43,000. Jones Financial Companies Lllp grew its position in MakeMyTrip by 4,420.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after buying an additional 884 shares during the last quarter. Osaic Holdings Inc. increased its stake in MakeMyTrip by 10.2% in 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 during the period. Finally, Paradice Investment Management LLC acquired a new position in MakeMyTrip in the 3rd quarter valued at $201,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Citigroup cut their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Finally, Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Trading Down 1.5%

Shares of MMYT opened at $52.12 on Monday. MakeMyTrip Limited has a twelve month low of $48.20 and a twelve month high of $113.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a market capitalization of $5.80 billion, a P/E ratio of 108.58, a PEG ratio of 1.79 and a beta of 0.64. The firm’s 50-day moving average is $65.37 and its two-hundred day moving average is $79.52.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results 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 company had revenue of $295.70 million during the quarter, compared to the consensus estimate 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 fiscal year.

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.