Coronation Fund Managers Ltd. Buys 280,923 Shares of MakeMyTrip Limited $MMYT

Coronation Fund Managers Ltd. lifted its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 22.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,532,202 shares of the technology company’s stock after acquiring an additional 280,923 shares during the quarter. MakeMyTrip makes up approximately 2.6% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 11th largest position. Coronation Fund Managers Ltd. owned approximately 1.38% of MakeMyTrip worth $57,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Temasek Holdings Private Ltd bought a new position in MakeMyTrip in the first quarter valued at approximately $63,447,000. C WorldWide Group Holding A S increased its position in shares of MakeMyTrip by 10.2% during the 1st quarter. C WorldWide Group Holding A S now owns 128,029 shares of the technology company’s stock worth $4,774,000 after purchasing an additional 11,814 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of MakeMyTrip by 96.4% during the 1st quarter. Bessemer Group Inc. now owns 209,034 shares of the technology company’s stock worth $7,795,000 after purchasing an additional 102,624 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of MakeMyTrip by 43.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock worth $51,725,000 after purchasing an additional 413,087 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of MakeMyTrip by 58.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,561 shares of the technology company’s stock valued at $1,811,000 after buying an additional 17,829 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

Analysts Set New Price Targets

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

MakeMyTrip Trading Down 8.6%

Shares of NASDAQ MMYT opened at $51.64 on Thursday. The company has a market capitalization of $5.75 billion, a P/E ratio of 206.56 and a beta of 0.98. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $104.99. The stock has a 50 day moving average of $49.00 and a 200-day moving average of $52.27.

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.