Pictet Asset Management Holding SA Increases Holdings in MakeMyTrip Limited $MMYT

Pictet Asset Management Holding SA raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 18.8% in the 4th quarter, HoldingsChannel reports. The fund owned 704,453 shares of the technology company’s stock after buying an additional 111,624 shares during the quarter. Pictet Asset Management Holding SA’s holdings in MakeMyTrip were worth $57,850,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MMYT. Deltec Asset Management LLC acquired a new stake in shares of MakeMyTrip during the 4th quarter worth about $283,000. UBS Group AG boosted its holdings in MakeMyTrip by 93.7% in the fourth quarter. UBS Group AG now owns 1,105,383 shares of the technology company’s stock valued at $90,774,000 after purchasing an additional 534,807 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake in MakeMyTrip by 44.6% in the fourth quarter. Coronation Fund Managers Ltd. now owns 1,251,279 shares of the technology company’s stock valued at $102,755,000 after purchasing an additional 386,111 shares during the last quarter. Rakuten Securities Inc. increased its stake in MakeMyTrip by 893.9% in the fourth 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, U S Global Investors Inc. raised its holdings in MakeMyTrip by 30.8% during the fourth quarter. U S Global Investors Inc. now owns 50,870 shares of the technology company’s stock worth $4,177,000 after purchasing an additional 11,988 shares in 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 several recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Citigroup cut their price target on shares of MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Finally, Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, MakeMyTrip currently has an average rating of “Moderate Buy” and an average target price of $101.00.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $46.83 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a twelve month low of $32.67 and a twelve month high of $113.85. The stock has a 50 day moving average of $46.42 and a two-hundred day moving average of $65.39. The stock has a market cap of $5.21 billion, a P/E ratio of 97.56, a P/E/G ratio of 1.92 and a beta of 0.83.

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.