Norges Bank Purchases Shares of 1,099,415 MakeMyTrip Limited $MMYT

Norges Bank purchased a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,099,415 shares of the technology company’s stock, valued at approximately $90,284,000.

Other institutional investors have also made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of MakeMyTrip during the fourth quarter valued at about $29,000. Parallel Advisors LLC increased its position in shares of 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 last quarter. Stone House Investment Management LLC increased its position in shares of MakeMyTrip by 50.0% during the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after acquiring an additional 200 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after acquiring an additional 590 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after acquiring an additional 884 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Down 2.4%

Shares of MakeMyTrip stock opened at $44.09 on Friday. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $104.99. The company has a 50 day moving average of $44.23 and a 200 day moving average of $58.56. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 38.85. The company has a market capitalization of $4.91 billion, a P/E ratio of 176.36 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MMYT shares. The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. Finally, Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MakeMyTrip presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

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.