SummitTX Capital L.P. Invests $417,000 in MakeMyTrip Limited $MMYT

SummitTX Capital L.P. bought a new stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,182 shares of the technology company’s stock, valued at approximately $417,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Leonteq Securities AG bought a new position in MakeMyTrip during the fourth quarter valued at $29,000. Parallel Advisors LLC boosted its stake in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after purchasing an additional 284 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of MakeMyTrip during the 4th quarter worth about $46,000. Stone House Investment Management LLC grew its holdings in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after purchasing an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in MakeMyTrip by 893.9% during the 4th 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. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MMYT. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research note on Saturday, June 27th. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 20th. HSBC began coverage on MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 price target for the company. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Finally, Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $86.75.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $56.95 on Friday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 227.80 and a beta of 0.98. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $104.43. The company’s 50-day simple moving average is $50.48 and its 200-day simple moving average is $51.09.

MakeMyTrip 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.