MakeMyTrip Limited $MMYT Stock Position Lessened by Carrhae Capital LLP

Key Points

• Hedge fund Carrhae Capital LLP cut its stake in MakeMyTrip by 34.4% in Q3, leaving it with 378,097 shares worth about $35.4 million and making MMYT its 13th largest holding.
• Management has merged RedBus India into a domestic MakeMyTrip entity and is evaluating an India IPO, a move that could unlock local valuation but carries execution, regulatory and dilution risks.
• Analysts hold a consensus “Moderate Buy” with an average target of $106.33, while the stock trades near $45.72 after a recent quarter that beat EPS estimates but missed revenue, and carries a high P/E of 95.25.

Carrhae Capital LLP lowered its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 34.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 378,097 shares of the technology company's stock after selling 198,489 shares during the quarter. MakeMyTrip comprises about 2.1% of Carrhae Capital LLP's portfolio, making the stock its 13th biggest holding. Carrhae Capital LLP owned 0.34% of MakeMyTrip worth $35,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company's stock worth $37,000 after buying an additional 284 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of MakeMyTrip by 4,420.0% during the third quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company's stock valued at $86,000 after acquiring an additional 884 shares during the period. Advisory Services Network LLC bought a new stake in MakeMyTrip during the third quarter worth approximately $124,000. Banque Cantonale Vaudoise acquired a new stake in MakeMyTrip in the third quarter worth approximately $168,000. Finally, Osaic Holdings Inc. boosted its stake in MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company's stock valued at $199,000 after purchasing an additional 188 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

Key Stories Impacting MakeMyTrip

Here are the key news stories impacting MakeMyTrip this week:

• Positive Sentiment: Management has merged RedBus India into a domestic MakeMyTrip entity and is evaluating an India IPO, a move that could simplify structure and unlock valuation for local investors. MakeMyTrip evaluates India IPO, merges RedBus India under single entity
• Positive Sentiment: Multiple outlets report MakeMyTrip is actively eyeing a domestic IPO as part of a long‑term growth strategy, which could increase access to Indian retail and institutional demand and create a local benchmark valuation. MakeMyTrip evaluating India IPO as part of long-term growth strategy
• Positive Sentiment: Coverage notes MMYT gaining attention within Nasdaq digital travel/index themes — greater index focus can attract passive flows and boost liquidity. MakeMyTrip Builds Market Interest In Nasdaq Index
• Neutral Sentiment: Analysts maintain a generally constructive stance (consensus “Moderate Buy”), and industry coverage (Zacks) lists MMYT among internet/delivery/travel names that could benefit from greater internet penetration — supportive but not a near-term catalyst by itself. MakeMyTrip Given Consensus Rating of "Moderate Buy" by Analysts
• Negative Sentiment: Timing, regulatory approvals, and potential shareholder dilution remain key risks: an India IPO and restructuring introduce execution uncertainty and could create a two‑market dynamic that affects liquidity and valuation of the Nasdaq listing. MakeMyTrip Eyes an IPO in India

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Bank of America cut their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a "buy" rating for the company in a report on Wednesday, December 24th. Citigroup lowered their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Wednesday, January 21st. Finally, Morgan Stanley reissued an "overweight" rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.33.

MakeMyTrip Price Performance

NASDAQ MMYT opened at $45.72 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a 1 year low of $45.01 and a 1 year high of $113.85. The company has a market cap of $5.09 billion, a PE ratio of 95.25, a PEG ratio of 1.57 and a beta of 0.64. The stock's 50-day moving average price is $60.42 and its two-hundred day moving average price is $76.82.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate 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 net margin of 5.46% and a return on equity of 48.06%. On average, analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

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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