Flossbach Von Storch SE Makes New Investment in MakeMyTrip Limited $MMYT

Flossbach Von Storch SE bought a new position in MakeMyTrip Limited (NASDAQ:MMYT) during the second quarter, HoldingsChannel reports. The fund bought 50,000 shares of the technology company’s stock, valued at approximately $2,664,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in shares of MakeMyTrip in the fourth quarter worth approximately $29,000. Parallel Advisors LLC raised its position in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of MakeMyTrip during the 4th quarter valued at $46,000. Rakuten Securities Inc. lifted its stake in shares of MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after buying an additional 590 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in MakeMyTrip by 416.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after buying an additional 546 shares during the period. Institutional investors own 51.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MMYT shares. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research note on Saturday, June 27th. Citigroup restated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. HSBC started coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.75.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $61.24 on Thursday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 510.33 and a beta of 0.98. The firm has a fifty day moving average price of $54.82 and a 200 day moving average price of $50.15. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $104.43.

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.