Greenwoods Asset Management Hong Kong Ltd. Acquires Shares of 256,900 MakeMyTrip Limited $MMYT

Greenwoods Asset Management Hong Kong Ltd. acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 3rd quarter, Holdings Channel reports. The firm acquired 256,900 shares of the technology company’s stock, valued at approximately $24,046,000. MakeMyTrip makes up 0.5% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 23rd biggest position.

A number of other institutional investors also recently modified their holdings of MMYT. Comgest Global Investors S.A.S. grew its stake in shares of MakeMyTrip by 9.8% in the third quarter. Comgest Global Investors S.A.S. now owns 468,197 shares of the technology company’s stock valued at $43,823,000 after acquiring an additional 41,675 shares in the last quarter. Vanguard Group Inc. boosted its holdings in MakeMyTrip by 23.2% in the 3rd quarter. Vanguard Group Inc. now owns 85,773 shares of the technology company’s stock valued at $8,028,000 after purchasing an additional 16,163 shares during the period. HighTower Advisors LLC grew its position in shares of MakeMyTrip by 19.9% during the 3rd quarter. HighTower Advisors LLC now owns 50,466 shares of the technology company’s stock worth $4,724,000 after purchasing an additional 8,386 shares in the last quarter. Aberdeen Group plc grew its position in shares of MakeMyTrip by 3,891.0% during the 3rd quarter. Aberdeen Group plc now owns 215,077 shares of the technology company’s stock worth $20,466,000 after purchasing an additional 209,688 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its holdings in shares of MakeMyTrip by 233.0% during the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock worth $80,980,000 after purchasing an additional 605,388 shares during the period. Institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

MakeMyTrip Trading Up 0.3%

Shares of MMYT stock opened at $56.00 on Friday. MakeMyTrip Limited has a fifty-two week low of $53.09 and a fifty-two week high of $113.85. The stock’s fifty day moving average price is $71.48 and its two-hundred day moving average price is $82.68. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $6.23 billion, a PE ratio of 116.67, a P/E/G ratio of 1.92 and a beta of 0.64.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $295.70 million during 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%. Equities analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current fiscal 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.