Federated Hermes Inc. Raises Stock Position in MakeMyTrip Limited $MMYT

Federated Hermes Inc. lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 145.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 375,093 shares of the technology company’s stock after buying an additional 222,098 shares during the quarter. Federated Hermes Inc.’s holdings in MakeMyTrip were worth $35,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Schroder Investment Management Group lifted its holdings in MakeMyTrip by 42.4% in the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after buying an additional 1,674,538 shares during the period. Artisan Partners Limited Partnership raised its position in shares of MakeMyTrip by 12.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock worth $207,316,000 after acquiring an additional 234,670 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of MakeMyTrip by 30.0% during the second quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock valued at $200,235,000 after purchasing an additional 471,274 shares in the last quarter. Jennison Associates LLC boosted its position in shares of MakeMyTrip by 0.6% during the third quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock valued at $174,246,000 after purchasing an additional 11,837 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in MakeMyTrip by 8.3% in the second quarter. American Century Companies Inc. now owns 1,447,280 shares of the technology company’s stock worth $141,862,000 after purchasing an additional 111,272 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

MMYT stock opened at $62.38 on Friday. The stock’s 50 day simple moving average is $76.19 and its 200 day simple moving average is $86.76. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a 12-month low of $60.22 and a 12-month high of $120.72. The stock has a market capitalization of $6.94 billion, a PE ratio of 129.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.66.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share 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 firm had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. As a group, research analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MMYT. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday. Citigroup cut their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Finally, Bank of America lowered their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.33.

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.