Hsbc Holdings PLC Acquires Shares of 55,000 MakeMyTrip Limited $MMYT

Hsbc Holdings PLC acquired a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,000 shares of the technology company’s stock, valued at approximately $4,512,000.

Other institutional investors also recently modified their holdings of the company. Leonteq Securities AG bought a new position in shares of MakeMyTrip in the 4th quarter worth $29,000. Parallel Advisors LLC increased its stake in MakeMyTrip by 244.8% during 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 bought a new stake in MakeMyTrip during the 4th quarter valued at $46,000. Stone House Investment Management LLC raised its holdings in MakeMyTrip by 50.0% during the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after buying an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in 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 during the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MMYT shares. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a report on Saturday. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research cut shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.33.

MakeMyTrip Stock Up 2.6%

Shares of NASDAQ:MMYT opened at $53.49 on Friday. MakeMyTrip Limited has a 1 year low of $32.67 and a 1 year high of $104.99. The company has a market capitalization of $5.95 billion, a PE ratio of 213.96 and a beta of 1.01. The business has a fifty day moving average price of $45.84 and a two-hundred day moving average price of $55.73. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05.

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.