Bessemer Group Inc. Raises Stock Holdings in MakeMyTrip Limited $MMYT

Bessemer Group Inc. raised its position in MakeMyTrip Limited (NASDAQ:MMYT) by 81.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 106,410 shares of the technology company’s stock after purchasing an additional 47,730 shares during the period. Bessemer Group Inc.’s holdings in MakeMyTrip were worth $8,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMYT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MakeMyTrip by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after buying an additional 1,721 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in MakeMyTrip by 24.7% in the second quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock valued at $336,000 after buying an additional 679 shares during the last quarter. Nebula Research & Development LLC lifted its stake in MakeMyTrip by 9.2% in the second quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company’s stock valued at $1,558,000 after buying an additional 1,345 shares during the last quarter. Sei Investments Co. lifted its stake in MakeMyTrip by 14.9% in the second quarter. Sei Investments Co. now owns 520,853 shares of the technology company’s stock valued at $51,054,000 after buying an additional 67,367 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in MakeMyTrip by 108.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company’s stock valued at $19,712,000 after buying an additional 104,641 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

MMYT has been the subject of a number of research reports. Citigroup reduced their price objective on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Finally, Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $43.30 on Monday. The firm has a market cap of $4.82 billion, a P/E ratio of 90.21, a PEG ratio of 1.76 and a beta of 1.03. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The stock’s 50 day simple moving average is $44.47 and its 200-day simple moving average is $62.02. MakeMyTrip Limited has a 12-month low of $32.67 and a 12-month high of $106.25.

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.