Massachusetts Financial Services Co. MA Grows Position in MakeMyTrip Limited $MMYT

Massachusetts Financial Services Co. MA raised its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 181.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,734 shares of the technology company’s stock after acquiring an additional 475,248 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.66% of MakeMyTrip worth $69,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MakeMyTrip by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after purchasing an additional 1,721 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of MakeMyTrip by 31.6% in the 1st quarter. Rhumbline Advisers now owns 2,768 shares of the technology company’s stock worth $271,000 after buying an additional 664 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of MakeMyTrip during the 2nd quarter valued at about $50,000. Ballentine Partners LLC lifted its holdings in shares of MakeMyTrip by 16.5% in the 2nd quarter. Ballentine Partners LLC now owns 3,637 shares of the technology company’s stock valued at $356,000 after acquiring an additional 516 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its position in MakeMyTrip by 38.8% in the second quarter. Banque Pictet & Cie SA now owns 28,669 shares of the technology company’s stock worth $2,810,000 after acquiring an additional 8,007 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Price Performance

MMYT opened at $74.59 on Wednesday. The business has a fifty day moving average of $78.04 and a 200 day moving average of $88.35. The stock has a market cap of $8.30 billion, a P/E ratio of 116.55 and a beta of 0.66. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a 52-week low of $69.69 and a 52-week high of $120.72.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. The business had revenue of $295.70 million during the quarter, compared to the consensus estimate of $306.29 million. MakeMyTrip had a return on equity of 23.82% and a net margin of 7.57%. As a group, sell-side analysts anticipate that MakeMyTrip Limited will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

MMYT has been the topic of a number of recent research reports. Weiss Ratings started coverage on MakeMyTrip in a research report on Thursday, October 30th. They set a “hold (c)” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Bank of America cut their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, MakeMyTrip presently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

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.