Renaissance Technologies LLC Takes $2.56 Million Position in MakeMyTrip Limited $MMYT

Renaissance Technologies LLC purchased a new position in MakeMyTrip Limited (NASDAQ:MMYT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 68,567 shares of the technology company’s stock, valued at approximately $2,557,000. Renaissance Technologies LLC owned approximately 0.06% of MakeMyTrip at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in MakeMyTrip during the 1st quarter valued at $1,192,000. Inceptionr LLC lifted its holdings in shares of MakeMyTrip by 101.3% in the 1st quarter. Inceptionr LLC now owns 10,058 shares of the technology company’s stock worth $375,000 after acquiring an additional 5,061 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of MakeMyTrip by 17.5% in the 1st quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock worth $24,349,000 after acquiring an additional 97,377 shares during the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after purchasing an additional 280,923 shares during the period. Finally, Temasek Holdings Private Ltd bought a new position in MakeMyTrip during the 1st quarter valued at about $63,447,000. 51.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $60.01 on Monday. MakeMyTrip Limited has a 12-month low of $32.67 and a 12-month high of $104.43. The business’s fifty day simple moving average is $52.12 and its 200-day simple moving average is $50.39. The company has a market capitalization of $5.64 billion, a PE ratio of 500.08 and a beta of 0.98.

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.