Flossbach Von Storch SE Increases Stock Position in MakeMyTrip Limited $MMYT

Flossbach Von Storch SE boosted its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 97.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 37,500 shares of the technology company’s stock after purchasing an additional 18,500 shares during the period. Flossbach Von Storch SE’s holdings in MakeMyTrip were worth $3,510,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. raised its position in MakeMyTrip by 2,438.5% during the 2nd quarter. Federated Hermes Inc. now owns 152,995 shares of the technology company’s stock worth $14,997,000 after buying an additional 146,968 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in MakeMyTrip in the second quarter valued at about $30,005,000. Seven Grand Managers LLC acquired a new position in MakeMyTrip during the 2nd quarter worth approximately $7,352,000. Helios Capital Management PTE. Ltd. purchased a new position in shares of MakeMyTrip during the 3rd quarter worth approximately $2,574,000. Finally, Schroder Investment Management Group lifted its holdings in shares of MakeMyTrip by 42.4% in the 2nd quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock valued at $551,658,000 after buying an additional 1,674,538 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on MMYT. Citigroup cut their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings began coverage on shares of MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Finally, Bank of America reduced their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.33.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $60.27 on Thursday. MakeMyTrip Limited has a fifty-two week low of $60.22 and a fifty-two week high of $120.72. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 125.56, a PEG ratio of 2.16 and a beta of 0.66. The stock has a fifty day moving average of $76.65 and a two-hundred day moving average of $87.13. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The business had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. On average, analysts anticipate that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

MakeMyTrip Company 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.