Franklin Resources Inc. Has $131.37 Million Stock Position in MakeMyTrip Limited $MMYT

Franklin Resources Inc. grew its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,599,763 shares of the technology company’s stock after purchasing an additional 202,015 shares during the period. Franklin Resources Inc. owned approximately 1.44% of MakeMyTrip worth $131,373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MMYT. Leonteq Securities AG acquired a new position in shares of MakeMyTrip during the fourth quarter valued at about $29,000. Parallel Advisors LLC raised its holdings in shares of MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the period. Stone House Investment Management LLC raised its holdings in shares of MakeMyTrip by 50.0% during the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after purchasing an additional 200 shares during the period. Rakuten Securities Inc. raised its holdings in shares of MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after purchasing an additional 590 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after purchasing an additional 884 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Trading Down 4.8%

NASDAQ:MMYT opened at $39.06 on Thursday. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. The firm has a 50-day moving average of $44.41 and a 200-day moving average of $57.76. The company has a market cap of $4.35 billion, a PE ratio of 156.24 and a beta of 1.01. MakeMyTrip Limited has a one year low of $32.67 and a one year high of $104.99.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MMYT shares. Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, May 31st. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $101.00.

About MakeMyTrip

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.