MakeMyTrip Limited $MMYT Shares Acquired by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers increased its stake in MakeMyTrip by 44.6%, buying an additional 386,111 shares to hold 1,251,279 shares (1.12% of the company) worth about $102.8 million, making MMYT its fifth-largest position and 4.6% of Coronation’s portfolio.
• Institutional ownership stands at 51.89%, with several other funds also raising positions (e.g., Rakuten +893.9%, U S Global +30.8%), signalling growing institutional interest in the stock.
• MakeMyTrip reported a Q4 EPS beat ($0.52 vs. $0.43) but missed on revenue; the stock trades around $46 with a $5.12 billion market cap and a high P/E (~95.9), while analysts show mixed views — average rating "Moderate Buy" with an average target of $101.

Coronation Fund Managers Ltd. boosted its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,251,279 shares of the technology company's stock after purchasing an additional 386,111 shares during the quarter. MakeMyTrip comprises 4.6% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 5th biggest position. Coronation Fund Managers Ltd. owned 1.12% of MakeMyTrip worth $102,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rakuten Securities Inc. raised its stake in MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company's stock valued at $54,000 after purchasing an additional 590 shares in the last quarter. U S Global Investors Inc. raised its stake in MakeMyTrip by 30.8% in the fourth quarter. U S Global Investors Inc. now owns 50,870 shares of the technology company's stock valued at $4,177,000 after purchasing an additional 11,988 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in MakeMyTrip by 37.1% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,715 shares of the technology company's stock valued at $305,000 after purchasing an additional 1,005 shares in the last quarter. Ninety One UK Ltd raised its stake in MakeMyTrip by 14.7% in the fourth quarter. Ninety One UK Ltd now owns 94,655 shares of the technology company's stock valued at $7,773,000 after purchasing an additional 12,161 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in MakeMyTrip by 229.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock valued at $106,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

MakeMyTrip Stock Up 0.8%

Shares of NASDAQ MMYT opened at $46.02 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 95.88, a PEG ratio of 1.86 and a beta of 0.83. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $113.85. The stock has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $66.42.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last released its quarterly 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 company had revenue of $295.70 million for 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%. As a group, analysts forecast that MakeMyTrip Limited will post 1.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

MMYT has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Morgan Stanley reissued an "overweight" rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Wall Street Zen downgraded MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Finally, Citigroup lowered their target price on MakeMyTrip from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, MakeMyTrip has an average rating of "Moderate Buy" and an average target price of $101.00.

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.

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