Boston Common Asset Management LLC Decreases Stock Position in MakeMyTrip Limited $MMYT

Boston Common Asset Management LLC decreased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 30.1% in the 1st quarter, Holdings Channel reports. The fund owned 22,210 shares of the technology company’s stock after selling 9,582 shares during the period. Boston Common Asset Management LLC’s holdings in MakeMyTrip were worth $828,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in shares of MakeMyTrip by 112.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after purchasing an additional 826,143 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in MakeMyTrip by 140.0% in the fourth 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. Aberdeen Group plc increased its holdings in MakeMyTrip by 21.0% in the fourth quarter. Aberdeen Group plc now owns 260,177 shares of the technology company’s stock valued at $21,366,000 after buying an additional 45,100 shares during the last quarter. Baillie Gifford & Co. raised its stake in MakeMyTrip by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after buying an additional 114,975 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in MakeMyTrip during the fourth quarter valued at approximately $4,512,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HSBC began coverage on MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price for the company. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Zacks Research downgraded shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a research note on Saturday, June 27th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $54.62 on Monday. The business has a 50 day moving average of $48.46 and a two-hundred day moving average of $52.87. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $104.99. The company has a market cap of $6.08 billion, a P/E ratio of 218.48 and a beta of 0.98.

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.