Bessemer Group Inc. Boosts Stock Position in MakeMyTrip Limited $MMYT

Bessemer Group Inc. increased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 96.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,034 shares of the technology company’s stock after buying an additional 102,624 shares during the quarter. Bessemer Group Inc.’s holdings in MakeMyTrip were worth $7,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMYT. Schroder Investment Management Group boosted its stake in MakeMyTrip by 13.8% during 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 during the last quarter. Baillie Gifford & Co. increased its stake 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 raised its holdings in shares of MakeMyTrip by 17.9% during 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 period. Wasatch Advisors LP raised its holdings in shares of MakeMyTrip by 64.2% during 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 period. Finally, Artisan Partners Limited Partnership boosted its position in shares of MakeMyTrip by 1.8% during 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 acquiring an additional 40,712 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

Shares of MMYT opened at $54.62 on Monday. The firm has a 50-day simple moving average of $48.46 and a two-hundred day simple moving average of $52.87. The stock has a market cap 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.

Wall Street Analysts Forecast Growth

MMYT has been the subject of a number of analyst reports. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a report on Saturday, June 27th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. HSBC started coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five 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 currently 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.