MakeMyTrip Limited $MMYT Shares Purchased by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP raised its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 107.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,999 shares of the technology company’s stock after purchasing an additional 41,999 shares during the quarter. Hudson Bay Capital Management LP owned 0.07% of MakeMyTrip worth $7,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in shares of MakeMyTrip by 2,438.5% in the second quarter. Federated Hermes Inc. now owns 152,995 shares of the technology company’s stock valued at $14,997,000 after buying an additional 146,968 shares in the last quarter. Helios Capital Management PTE. Ltd. purchased a new position in MakeMyTrip in the third quarter worth $2,574,000. Seven Grand Managers LLC purchased a new position in MakeMyTrip in the second quarter worth $7,352,000. Coronation Fund Managers Ltd. lifted its holdings in MakeMyTrip by 233.0% in the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock valued at $80,980,000 after acquiring an additional 605,388 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in MakeMyTrip by 181.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 737,734 shares of the technology company’s stock valued at $69,052,000 after acquiring an additional 475,248 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

MMYT has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Bank of America reduced their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Finally, Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $39.78 on Friday. 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 company has a market capitalization of $4.43 billion, a P/E ratio of 82.88, a price-to-earnings-growth ratio of 1.47 and a beta of 0.64. The firm has a 50-day moving average price of $58.04 and a two-hundred day moving average price of $75.94. MakeMyTrip Limited has a twelve month low of $39.42 and a twelve month high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, research analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

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.