Capital Research Global Investors Invests $150.07 Million in MakeMyTrip Limited $MMYT

Capital Research Global Investors bought a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,827,439 shares of the technology company’s stock, valued at approximately $150,069,000.

Several other hedge funds also recently made changes to their positions in the business. Capital International Sarl increased its holdings in shares of MakeMyTrip by 11.9% during the fourth quarter. Capital International Sarl now owns 42,409 shares of the technology company’s stock worth $3,483,000 after purchasing an additional 4,506 shares during the period. Capital International Inc. CA increased its holdings in shares of MakeMyTrip by 14.8% during the fourth quarter. Capital International Inc. CA now owns 531,303 shares of the technology company’s stock worth $43,631,000 after purchasing an additional 68,487 shares during the period. Ovata Capital Management Ltd bought a new position in shares of MakeMyTrip during the fourth quarter worth approximately $690,000. TD Asset Management Inc increased its holdings in shares of MakeMyTrip by 500.9% during the fourth quarter. TD Asset Management Inc now owns 26,236 shares of the technology company’s stock worth $2,154,000 after purchasing an additional 21,870 shares during the period. Finally, Dumac Inc. bought a new position in shares of MakeMyTrip during the fourth quarter worth approximately $3,314,000. 51.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $41.70 on Tuesday. The company’s 50 day simple moving average is $44.27 and its 200 day simple moving average is $58.23. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 166.80 and a beta of 1.01. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $104.99.

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.