Allspring Global Investments Holdings LLC Purchases 413,087 Shares of MakeMyTrip Limited $MMYT

Allspring Global Investments Holdings LLC lifted its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 43.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,365,505 shares of the technology company’s stock after purchasing an additional 413,087 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MakeMyTrip were worth $51,725,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Schroder Investment Management Group boosted its stake in MakeMyTrip by 13.8% in the fourth quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after buying an additional 869,728 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after acquiring an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MakeMyTrip by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after acquiring an additional 371,066 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of MakeMyTrip by 64.2% in the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock worth $87,249,000 after acquiring an additional 914,402 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of MakeMyTrip by 1.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after purchasing an additional 40,712 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $54.62 on Friday. The stock has a market capitalization of $6.08 billion, a PE ratio of 218.48 and a beta of 0.98. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $104.99. The business’s 50-day moving average is $48.46 and its 200 day moving average is $53.07.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MMYT. The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a report on Saturday, June 27th. HSBC initiated coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Zacks Research cut MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MakeMyTrip has an average rating of “Moderate Buy” and a consensus target price of $86.75.

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.