Massachusetts Financial Services Co. MA Increases Stock Position in MakeMyTrip Limited $MMYT

Key Points

• Massachusetts Financial Services Co. MA boosted its stake in MakeMyTrip by 112.0% in Q4, buying 826,143 shares to hold 1,563,877 shares (about 1.41% of the company) worth roughly $128.4 million.
• Several other large institutions (Schroder, Man Group, Coronation, Allspring, Mitsubishi UFJ) also materially increased positions, leaving about 51.89% of MMYT owned by hedge funds and other institutional investors.
• Analysts give MMYT a consensus “Moderate Buy” (4 Buy, 1 Hold) with a consensus target of $101.00; some firms recently trimmed targets (Citigroup to $80, BofA to $113) while the stock trades with a market cap of $4.79B and a P/E around 89.8.

Massachusetts Financial Services Co. MA increased its position in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 112.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,563,877 shares of the technology company's stock after buying an additional 826,143 shares during the period. Massachusetts Financial Services Co. MA owned 1.41% of MakeMyTrip worth $128,426,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MMYT. Schroder Investment Management Group boosted its holdings in MakeMyTrip by 12.2% during the third quarter. Schroder Investment Management Group now owns 6,316,976 shares of the technology company's stock worth $591,269,000 after buying an additional 688,957 shares in the last quarter. Man Group plc boosted its holdings in MakeMyTrip by 6,434.6% during the second quarter. Man Group plc now owns 632,747 shares of the technology company's stock worth $62,022,000 after buying an additional 623,064 shares in the last quarter. Coronation Fund Managers Ltd. boosted its holdings in MakeMyTrip by 233.0% during the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company's stock worth $80,980,000 after buying an additional 605,388 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in MakeMyTrip by 140.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company's stock worth $77,994,000 after buying an additional 555,620 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in MakeMyTrip by 505.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 509,939 shares of the technology company's stock worth $47,730,000 after buying an additional 425,690 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMYT has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Citigroup decreased their price objective on shares of MakeMyTrip from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Monday. Bank of America decreased their price objective 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. Finally, Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, MakeMyTrip has a consensus rating of "Moderate Buy" and a consensus target price of $101.00.

MakeMyTrip Stock Performance

MMYT opened at $43.09 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 89.77, a PEG ratio of 1.66 and a beta of 0.83. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $113.85. The firm's fifty day simple moving average is $48.72 and its two-hundred day simple moving average is $69.00.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last issued its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.09. The business 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%. Equities analysts anticipate that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal 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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