Man Group plc Raises Stock Holdings in MakeMyTrip Limited $MMYT

Man Group plc increased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 60.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,381,728 shares of the technology company’s stock after acquiring an additional 521,415 shares during the period. Man Group plc’s holdings in MakeMyTrip were worth $113,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMYT. Royal Bank of Canada raised its stake in MakeMyTrip by 780.3% in the 4th quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock worth $186,797,000 after acquiring an additional 2,016,281 shares during the last quarter. Capital Research Global Investors purchased a new position in MakeMyTrip in the 4th quarter worth $150,069,000. Norges Bank purchased a new position in MakeMyTrip in the 4th quarter worth $90,284,000. Schroder Investment Management Group raised its stake in MakeMyTrip by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after acquiring an additional 869,728 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in MakeMyTrip by 112.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after acquiring an additional 826,143 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $45.45 on Thursday. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $104.99. 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 stock has a market capitalization of $5.06 billion, a PE ratio of 181.80 and a beta of 1.01. The stock’s 50-day moving average price is $44.93 and its 200-day moving average price is $56.78.

Wall Street Analysts Forecast Growth

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

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.