Sustainable Growth Advisers LP Acquires 30,830 Shares of MakeMyTrip Limited $MMYT

Sustainable Growth Advisers LP raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 51.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,984 shares of the technology company’s stock after purchasing an additional 30,830 shares during the period. Sustainable Growth Advisers LP owned 0.08% of MakeMyTrip worth $7,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Leonteq Securities AG bought a new position in MakeMyTrip during the 4th quarter valued at approximately $29,000. Parallel Advisors LLC raised its position in MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the last quarter. Stone House Investment Management LLC raised its position in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after purchasing an additional 200 shares during the last quarter. Rakuten Securities Inc. raised its position in MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after purchasing an additional 590 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in MakeMyTrip by 4,420.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 904 shares of the technology company’s stock valued at $86,000 after purchasing an additional 884 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Up 1.2%

MMYT stock opened at $47.32 on Tuesday. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $104.99. The business’s 50 day moving average price is $43.81 and its two-hundred day moving average price is $59.32. The company has a debt-to-equity ratio of 38.85, a quick ratio of 3.05 and a current ratio of 3.05. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 189.28 and a beta of 1.03.

Analyst Ratings Changes

MMYT has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday. Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently 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.