Temasek Holdings Private Ltd Makes New $63.45 Million Investment in MakeMyTrip Limited $MMYT

Key Points

• Temasek Holdings disclosed a new position in MakeMyTrip, buying 1,701,456 shares worth about $63.45 million in the first quarter. The stake represented 1.53% of the company at the end of the reporting period.
• Several other institutional investors also increased their holdings, and institutions now own 51.89% of MakeMyTrip’s stock. Notable increases came from Schroder Investment Management Group, Baillie Gifford, Price T Rowe, and Wasatch Advisors.
• Analyst sentiment remains broadly positive: the stock has a consensus Buy rating with an average target price of $86.75. Recent ratings included Buy calls from Citigroup and HSBC, though one firm downgraded the stock to Sell.

Temasek Holdings Private Ltd bought a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,701,456 shares of the technology company's stock, valued at approximately $63,447,000. Temasek Holdings Private Ltd owned 1.53% of MakeMyTrip at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Schroder Investment Management Group lifted its stake in shares of MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company's stock worth $590,172,000 after acquiring an additional 869,728 shares during the last quarter. Baillie Gifford & Co. grew its position in MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company's stock valued at $423,332,000 after acquiring an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in MakeMyTrip by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company's stock worth $201,064,000 after purchasing an additional 371,066 shares during the period. Wasatch Advisors LP lifted its position in shares of MakeMyTrip by 64.2% during the first quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company's stock worth $87,249,000 after purchasing an additional 914,402 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of MakeMyTrip by 1.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company's stock worth $190,699,000 after purchasing an additional 40,712 shares during the last quarter. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $56.49 on Wednesday. The firm has a 50-day simple moving average of $48.83 and a 200-day simple moving average of $52.48. MakeMyTrip Limited has a one year low of $32.67 and a one year high of $104.99. The firm has a market cap of $6.29 billion, a P/E ratio of 225.96 and a beta of 0.98.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup restated a "buy" rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Zacks Research upgraded shares of MakeMyTrip from a "strong sell" rating to a "strong-buy" rating in a report on Monday. Wall Street Zen cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. HSBC assumed coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They issued a "buy" rating and a $70.00 target price on the stock. Finally, The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $86.75.

About MakeMyTrip

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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