Aberdeen Group plc Grows Stake in MakeMyTrip Limited $MMYT

Aberdeen Group plc grew its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 21.0% during the fourth quarter, HoldingsChannel reports. The firm owned 260,177 shares of the technology company’s stock after buying an additional 45,100 shares during the period. Aberdeen Group plc’s holdings in MakeMyTrip were worth $21,366,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MakeMyTrip by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock worth $1,642,000 after buying an additional 1,721 shares during the period. M&T Bank Corp lifted its position in shares of MakeMyTrip by 8.2% during the second quarter. M&T Bank Corp now owns 7,697 shares of the technology company’s stock worth $754,000 after purchasing an additional 582 shares during the last quarter. Federated Hermes Inc. grew its stake in MakeMyTrip by 2,438.5% in the second quarter. Federated Hermes Inc. now owns 152,995 shares of the technology company’s stock worth $14,997,000 after purchasing an additional 146,968 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in MakeMyTrip by 24.7% in the second quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock valued at $336,000 after buying an additional 679 shares during the last quarter. Finally, Aperture Investors LLC bought a new stake in MakeMyTrip in the second quarter valued at about $980,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

Shares of MMYT opened at $39.84 on Monday. The firm has a fifty day moving average of $51.27 and a 200-day moving average of $71.43. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 83.00, a price-to-earnings-growth ratio of 1.53 and a beta of 0.83. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, equities analysts anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MMYT. Citigroup reduced their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, January 21st. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday. Bank of America decreased their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Finally, Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus 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.