Comgest Global Investors S.A.S. Grows Stake in MakeMyTrip Limited $MMYT

Comgest Global Investors S.A.S. lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 9.8% in the third quarter, Holdings Channel.com reports. The firm owned 468,197 shares of the technology company’s stock after buying an additional 41,675 shares during the period. MakeMyTrip comprises about 0.8% of Comgest Global Investors S.A.S.’s holdings, making the stock its 25th biggest position. Comgest Global Investors S.A.S.’s holdings in MakeMyTrip were worth $43,823,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new stake in shares of MakeMyTrip in the second quarter worth $43,000. Jones Financial Companies Lllp increased its holdings in shares of MakeMyTrip by 4,420.0% in 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 last quarter. Osaic Holdings Inc. grew its position in MakeMyTrip by 10.2% in the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after acquiring an additional 188 shares during the period. Shilanski & Associates Inc. acquired a new position in shares of MakeMyTrip in the 2nd quarter worth approximately $200,000. Finally, Paradice Investment Management LLC purchased a new position in MakeMyTrip during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

MakeMyTrip Price Performance

MakeMyTrip stock opened at $57.15 on Thursday. The stock has a market capitalization of $6.36 billion, a P/E ratio of 119.06, a P/E/G ratio of 1.95 and a beta of 0.64. MakeMyTrip Limited has a 12-month low of $53.09 and a 12-month high of $113.85. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50-day moving average is $72.46 and its two-hundred day moving average is $83.13.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The business had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. Equities analysts predict that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

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.