Hsbc Holdings PLC Acquires 243,384 Shares of MakeMyTrip Limited $MMYT

Hsbc Holdings PLC lifted its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 442.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 298,384 shares of the technology company’s stock after buying an additional 243,384 shares during the quarter. Hsbc Holdings PLC’s holdings in MakeMyTrip were worth $11,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Leonteq Securities AG purchased a new position in MakeMyTrip during the 4th quarter valued at $29,000. Parallel Advisors LLC increased its stake in MakeMyTrip by 244.8% in the third 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 bought a new stake in shares of MakeMyTrip during the fourth quarter worth $46,000. Stone House Investment Management LLC lifted its position in shares of 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 purchasing an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of MakeMyTrip by 893.9% during the fourth 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 period. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $51.64 on Thursday. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99. The company has a 50-day moving average of $49.00 and a 200 day moving average of $52.27. The firm has a market cap of $5.75 billion, a PE ratio of 206.56 and a beta of 0.98.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MMYT. HSBC initiated coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price target on the stock. Zacks Research raised shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen downgraded 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 research report on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research note on Saturday, June 27th. One equities research 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 stock. According to data from MarketBeat, MakeMyTrip has an average rating of “Buy” and an average price target of $86.75.

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.