Bessemer Group Inc. Buys Shares of 58,680 MakeMyTrip Limited $MMYT

Bessemer Group Inc. purchased a new stake in MakeMyTrip Limited (NASDAQ:MMYT) during the 3rd quarter, Holdings Channel reports. The fund purchased 58,680 shares of the technology company’s stock, valued at approximately $5,493,000.

Several other large investors have also modified their holdings of MMYT. Schroder Investment Management Group raised its position in shares of MakeMyTrip by 42.4% during the 2nd quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after purchasing an additional 1,674,538 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of MakeMyTrip by 12.5% in the second quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock worth $207,316,000 after acquiring an additional 234,670 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of MakeMyTrip by 30.0% in the second quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock valued at $200,235,000 after acquiring an additional 471,274 shares in the last quarter. Jennison Associates LLC lifted its position in shares of MakeMyTrip by 0.6% in the third quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock valued at $174,246,000 after acquiring an additional 11,837 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of MakeMyTrip by 8.3% during the second quarter. American Century Companies Inc. now owns 1,447,280 shares of the technology company’s stock valued at $141,862,000 after acquiring an additional 111,272 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America reduced their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Finally, Citigroup reduced their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Stock Up 0.0%

Shares of NASDAQ MMYT opened at $57.10 on Friday. The stock has a market capitalization of $6.35 billion, a PE ratio of 118.96, a P/E/G ratio of 1.96 and a beta of 0.64. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a fifty day moving average of $74.83 and a 200-day moving average of $85.35. MakeMyTrip Limited has a 52-week low of $53.09 and a 52-week high of $118.00.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The firm had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. On average, analysts anticipate that MakeMyTrip Limited will post 1.27 EPS for the current year.

MakeMyTrip Company 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.