Hsbc Holdings PLC Makes New Investment in MakeMyTrip Limited $MMYT

Hsbc Holdings PLC purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,000 shares of the technology company’s stock, valued at approximately $4,512,000.

Several other large investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in MakeMyTrip by 112.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock valued at $128,426,000 after purchasing an additional 826,143 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of MakeMyTrip by 140.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after buying an additional 555,620 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in shares of MakeMyTrip by 107.7% in the third quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock valued at $7,582,000 after buying an additional 41,999 shares during the period. Capital World Investors increased its stake in shares of MakeMyTrip by 5.4% in the third quarter. Capital World Investors now owns 1,306,699 shares of the technology company’s stock valued at $122,307,000 after buying an additional 67,109 shares during the period. Finally, Aberdeen Group plc raised its position in shares of MakeMyTrip by 21.0% during the fourth quarter. Aberdeen Group plc now owns 260,177 shares of the technology company’s stock worth $21,366,000 after acquiring an additional 45,100 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the topic of a number of recent analyst reports. Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research note on Saturday. Four 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.33.

MakeMyTrip Trading Up 2.6%

MMYT opened at $53.49 on Friday. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 38.85. The company has a market cap of $5.95 billion, a P/E ratio of 213.96 and a beta of 1.01. The company has a fifty day moving average price of $45.84 and a two-hundred day moving average price of $55.73.

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.