KADENSA CAPITAL Ltd Decreases Stock Position in MakeMyTrip Limited $MMYT

Key Points

• KADENSA CAPITAL Ltd cut its stake in MakeMyTrip by 16.4% in Q3, selling 27,749 shares and ending the period with 141,896 shares worth about $13.28 million.
• Several large institutions added to positions—Schroder (+12.2% to 6.316,976 shares, ~$591.3M), Artisan, Franklin and Capital International among them—and institutional investors now own roughly 51.89% of the stock.
• MMYT opened at $45.50, trades in a 1‑year range of $45.04–$113.85 with a $5.06B market cap and a P/E of 94.79; analysts' consensus is a “Moderate Buy” with a $106.33 target.

KADENSA CAPITAL Ltd lessened its holdings in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 16.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,896 shares of the technology company's stock after selling 27,749 shares during the quarter. KADENSA CAPITAL Ltd owned 0.13% of MakeMyTrip worth $13,281,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Schroder Investment Management Group raised its position in shares of MakeMyTrip by 12.2% in the 3rd quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company's stock valued at $591,269,000 after purchasing an additional 688,957 shares during the last quarter. Artisan Partners Limited Partnership grew its position in MakeMyTrip by 7.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,281,492 shares of the technology company's stock worth $213,548,000 after purchasing an additional 166,456 shares during the last quarter. Franklin Resources Inc. grew its position in MakeMyTrip by 30.0% during the 2nd quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company's stock worth $200,235,000 after purchasing an additional 471,274 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of MakeMyTrip by 0.6% in the third quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company's stock worth $174,246,000 after buying an additional 11,837 shares during the last quarter. Finally, Capital International Investors increased its position in shares of MakeMyTrip by 22.1% in the 3rd quarter. Capital International Investors now owns 1,717,783 shares of the technology company's stock valued at $160,784,000 after acquiring an additional 310,627 shares during the period. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $45.50 on Monday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. MakeMyTrip Limited has a 1-year low of $45.04 and a 1-year high of $113.85. The company has a market cap of $5.06 billion, a PE ratio of 94.79, a price-to-earnings-growth ratio of 1.56 and a beta of 0.64. The stock's 50 day simple moving average is $61.90 and its 200-day simple moving average is $77.58.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The company had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America cut their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, December 24th. Morgan Stanley restated an "overweight" rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Citigroup dropped their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Wednesday, January 21st. Finally, Weiss Ratings restated 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.33.

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.

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