Hudson Bay Capital Management LP Grows Position in MakeMyTrip Limited $MMYT

Hudson Bay Capital Management LP raised its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 107.7% in the third quarter, HoldingsChannel.com reports. The fund owned 80,999 shares of the technology company’s stock after purchasing an additional 41,999 shares during the quarter. Hudson Bay Capital Management LP’s holdings in MakeMyTrip were worth $7,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Schroder Investment Management Group boosted its stake in shares of MakeMyTrip by 12.2% during the third quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company’s stock valued at $591,269,000 after acquiring an additional 688,957 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in MakeMyTrip by 7.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,281,492 shares of the technology company’s stock valued at $213,548,000 after purchasing an additional 166,456 shares during the last quarter. Franklin Resources Inc. lifted its holdings in MakeMyTrip by 30.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock valued at $200,235,000 after purchasing an additional 471,274 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of MakeMyTrip by 0.6% during the 3rd quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock worth $174,246,000 after purchasing an additional 11,837 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of MakeMyTrip by 22.1% during the 3rd quarter. Capital International Investors now owns 1,717,783 shares of the technology company’s stock worth $160,784,000 after purchasing an additional 310,627 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $39.78 on Friday. The company has a market cap of $4.43 billion, a P/E ratio of 82.88, a PEG ratio of 1.47 and a beta of 0.64. The business has a 50 day moving average of $58.04 and a two-hundred day moving average of $75.94. MakeMyTrip Limited has a 52 week low of $39.42 and a 52 week high of $113.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85.

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

Analyst Upgrades and Downgrades

MMYT has been the subject of a number of analyst reports. 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. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Bank of America cut 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.33.

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.