The Manufacturers Life Insurance Company Has $15.82 Million Stock Position in MakeMyTrip Limited $MMYT

The Manufacturers Life Insurance Company cut its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 61.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,158 shares of the technology company’s stock after selling 686,863 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.38% of MakeMyTrip worth $15,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MMYT. SummitTX Capital L.P. bought a new position in MakeMyTrip in the 1st quarter valued at about $417,000. Renaissance Technologies LLC bought a new stake in MakeMyTrip during the 1st quarter worth approximately $2,557,000. Public Employees Retirement System of Ohio bought a new stake in MakeMyTrip during the 1st quarter worth approximately $1,192,000. Inceptionr LLC raised its stake in shares of MakeMyTrip by 101.3% in the first quarter. Inceptionr LLC now owns 10,058 shares of the technology company’s stock worth $375,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of MakeMyTrip by 17.5% in the first quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock worth $24,349,000 after purchasing an additional 97,377 shares during the last quarter. 51.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

MakeMyTrip Price Performance

MakeMyTrip stock opened at $56.95 on Monday. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $104.43. The company’s 50 day moving average price is $50.48 and its two-hundred day moving average price is $50.89. The stock has a market cap of $5.36 billion, a P/E ratio of 227.80 and a beta of 0.98.

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.