Polar Capital Holdings Plc Raises Position in MakeMyTrip Limited $MMYT

Polar Capital Holdings Plc boosted its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 42.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,857 shares of the technology company’s stock after buying an additional 156,029 shares during the period. Polar Capital Holdings Plc owned 0.47% of MakeMyTrip worth $42,691,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of MakeMyTrip in the fourth quarter worth approximately $29,000. Parallel Advisors LLC lifted its holdings in MakeMyTrip by 244.8% in 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in MakeMyTrip in the 4th quarter valued at $46,000. Stone House Investment Management LLC boosted its stake in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in shares of MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MMYT. Zacks Research cut shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

MakeMyTrip Stock Up 0.5%

NASDAQ MMYT opened at $45.68 on Wednesday. The business’s fifty day simple moving average is $44.84 and its 200-day simple moving average is $56.96. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 38.85. The firm has a market cap of $5.08 billion, a PE ratio of 182.72 and a beta of 1.01. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $104.99.

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.