SummitTX Capital L.P. Invests $417,000 in MakeMyTrip Limited $MMYT

SummitTX Capital L.P. purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,182 shares of the technology company’s stock, valued at approximately $417,000.

Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in MakeMyTrip by 112.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock valued at $128,426,000 after acquiring an additional 826,143 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in MakeMyTrip in the first quarter valued at approximately $63,447,000. Aberdeen Group plc grew its position in MakeMyTrip by 21.0% in the fourth quarter. Aberdeen Group plc now owns 260,177 shares of the technology company’s stock worth $21,366,000 after acquiring an additional 45,100 shares during the period. Baillie Gifford & Co. increased its stake in MakeMyTrip by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after acquiring an additional 114,975 shares during the last quarter. Finally, Sei Investments Co. increased its stake in MakeMyTrip by 17.5% during the first quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock worth $24,349,000 after acquiring an additional 97,377 shares during the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $56.95 on Friday. The company has a market cap of $5.36 billion, a P/E ratio of 227.80 and a beta of 0.98. The stock has a 50-day moving average of $50.48 and a two-hundred day moving average of $51.09. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.43.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MMYT shares. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research note on Saturday, June 27th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Zacks Research raised shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, HSBC started coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, MakeMyTrip currently has a consensus rating of “Buy” and a consensus target price of $86.75.

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.