Capital World Investors Has $122.31 Million Stock Position in MakeMyTrip Limited $MMYT

Capital World Investors raised its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,306,699 shares of the technology company’s stock after buying an additional 67,109 shares during the quarter. Capital World Investors owned about 1.17% of MakeMyTrip worth $122,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MakeMyTrip by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after acquiring an additional 1,721 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in MakeMyTrip by 27.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,323 shares of the technology company’s stock worth $3,756,000 after purchasing an additional 8,232 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in MakeMyTrip during the 2nd quarter worth about $8,258,000. Geode Capital Management LLC raised its stake in shares of MakeMyTrip by 408.0% in the 2nd quarter. Geode Capital Management LLC now owns 302,664 shares of the technology company’s stock valued at $29,667,000 after purchasing an additional 243,086 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of MakeMyTrip by 6.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,355 shares of the technology company’s stock valued at $1,701,000 after purchasing an additional 1,017 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the subject of several recent research reports. Bank of America reduced their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Finally, Citigroup decreased their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $47.39 on Thursday. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 98.73, a PEG ratio of 1.67 and a beta of 0.64. The business has a 50-day moving average of $63.36 and a 200-day moving average of $78.56. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. MakeMyTrip Limited has a fifty-two week low of $46.99 and a fifty-two week high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The business had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. As a group, sell-side 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.