Carrhae Capital LLP Boosts Stock Position in MakeMyTrip Limited $MMYT

Carrhae Capital LLP boosted its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 98.6% in the fourth quarter, Holdings Channel reports. The fund owned 750,942 shares of the technology company’s stock after purchasing an additional 372,845 shares during the period. MakeMyTrip accounts for about 2.3% of Carrhae Capital LLP’s portfolio, making the stock its 11th biggest position. Carrhae Capital LLP’s holdings in MakeMyTrip were worth $61,667,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MMYT. Schroder Investment Management Group lifted its holdings in shares of MakeMyTrip by 12.2% during the third quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company’s stock worth $591,269,000 after purchasing an additional 688,957 shares during the period. Baillie Gifford & Co. increased its stake in MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after buying an additional 114,975 shares during the period. Artisan Partners Limited Partnership increased its stake in MakeMyTrip by 7.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,281,492 shares of the technology company’s stock valued at $213,548,000 after buying an additional 166,456 shares during the period. Jennison Associates LLC raised its position in MakeMyTrip by 0.6% during the 3rd quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock worth $174,246,000 after buying an additional 11,837 shares during the last quarter. Finally, Capital International Investors raised its position in MakeMyTrip by 22.1% during the 3rd quarter. Capital International Investors now owns 1,717,783 shares of the technology company’s stock worth $160,784,000 after buying an additional 310,627 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MMYT shares. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Zacks Research downgraded shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Finally, Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

MakeMyTrip Stock Down 0.6%

MMYT stock opened at $42.75 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The company’s 50-day moving average price is $43.75 and its 200 day moving average price is $60.86. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $105.23. The company has a market cap of $4.76 billion, a P/E ratio of 171.00, a P/E/G ratio of 1.75 and a beta of 1.03.

MakeMyTrip Company 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.