Hsbc Holdings PLC Invests $4.51 Million in MakeMyTrip Limited $MMYT

Key Points

• HSBC Holdings PLC opened a new position in MakeMyTrip during the fourth quarter, buying 55,000 shares worth about $4.51 million.
• Institutional interest in MakeMyTrip remains strong, with several other funds increasing stakes and 51.89% of the stock now owned by institutional investors.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus rating, with a consensus target price of $86.75, while HSBC initiated coverage with a buy rating and a $70 target.

Hsbc Holdings PLC bought a new position in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 55,000 shares of the technology company's stock, valued at approximately $4,512,000.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MakeMyTrip by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company's stock worth $1,642,000 after purchasing an additional 1,721 shares in the last quarter. Daiwa Securities Group Inc. raised its position in MakeMyTrip by 24.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company's stock valued at $336,000 after purchasing an additional 679 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of MakeMyTrip by 9.2% in the 2nd quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company's stock worth $1,558,000 after buying an additional 1,345 shares during the period. Sei Investments Co. lifted its holdings in shares of MakeMyTrip by 14.9% in the 2nd quarter. Sei Investments Co. now owns 520,853 shares of the technology company's stock worth $51,054,000 after buying an additional 67,367 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of MakeMyTrip by 108.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company's stock worth $19,712,000 after buying an additional 104,641 shares during the period. 51.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup restated a "buy" rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Zacks Research downgraded shares of MakeMyTrip from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 target price on MakeMyTrip in a report on Saturday, June 27th. Finally, HSBC assumed coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a "buy" rating and a $70.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, MakeMyTrip currently has an average rating of "Moderate Buy" and a consensus target price of $86.75.

MakeMyTrip Price Performance

MakeMyTrip stock opened at $58.02 on Friday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 232.08 and a beta of 0.98. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99. The business has a fifty day moving average price of $47.54 and a 200-day moving average price of $54.07.

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.

Want to see what other hedge funds are holding MMYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MakeMyTrip Limited (NASDAQ:MMYT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.