Sei Investments Co. Increases Position in MakeMyTrip Limited $MMYT

Sei Investments Co. grew its position in MakeMyTrip Limited (NASDAQ:MMYT) by 17.5% during the first quarter, Holdings Channel.com reports. The firm owned 652,971 shares of the technology company’s stock after acquiring an additional 97,377 shares during the period. Sei Investments Co.’s holdings in MakeMyTrip were worth $24,349,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Coronation Fund Managers Ltd. grew its stake in shares of MakeMyTrip by 22.5% during the first quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after purchasing an additional 280,923 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in MakeMyTrip in the first quarter valued at $63,447,000. C WorldWide Group Holding A S raised its stake in MakeMyTrip by 10.2% in the first quarter. C WorldWide Group Holding A S now owns 128,029 shares of the technology company’s stock valued at $4,774,000 after buying an additional 11,814 shares in the last quarter. Bessemer Group Inc. lifted its holdings in MakeMyTrip by 96.4% during the 1st quarter. Bessemer Group Inc. now owns 209,034 shares of the technology company’s stock worth $7,795,000 after buying an additional 102,624 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in MakeMyTrip by 43.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock worth $51,725,000 after buying an additional 413,087 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MMYT shares. HSBC began coverage on MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research note on Saturday, June 27th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. 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 data from MarketBeat.com, MakeMyTrip presently has a consensus rating of “Buy” and an average target price of $86.75.

MakeMyTrip Stock Performance

MMYT opened at $53.72 on Wednesday. MakeMyTrip Limited has a one year low of $32.67 and a one year high of $104.43. The stock has a market capitalization of $5.98 billion, a P/E ratio of 214.88 and a beta of 0.98. The business’s 50-day simple moving average is $49.63 and its 200-day simple moving average is $51.38.

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.