Renaissance Technologies LLC Invests $2.56 Million in MakeMyTrip Limited $MMYT

Renaissance Technologies LLC acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 68,567 shares of the technology company’s stock, valued at approximately $2,557,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group grew its holdings in MakeMyTrip by 13.8% in the fourth quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after purchasing an additional 869,728 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of MakeMyTrip by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after purchasing an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of MakeMyTrip by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after purchasing an additional 371,066 shares in the last quarter. Wasatch Advisors LP grew its stake in MakeMyTrip by 64.2% during the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock worth $87,249,000 after buying an additional 914,402 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in MakeMyTrip by 1.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock worth $190,699,000 after buying an additional 40,712 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MMYT. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research note on Saturday, June 27th. Zacks Research upgraded shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Finally, HSBC assumed coverage on MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $86.75.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $60.01 on Monday. The stock has a market cap of $5.64 billion, a PE ratio of 500.08 and a beta of 0.98. The business has a 50-day simple moving average of $52.12 and a 200-day simple moving average of $50.39. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $104.43.

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.