The Manufacturers Life Insurance Company has increased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 13.6% during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The institutional investor now owns 717,751 shares of the online travel company’s stock, having purchased an additional 85,689 shares during the quarter. This stake represents 0.65% of MakeMyTrip’s total shares, valued at $80,589,000.
Other institutional investors have also been adjusting their positions in MakeMyTrip. Norges Bank initiated a new stake worth approximately $97,833,000, while GQG Partners LLC and Martin Currie Ltd. established new positions valued at $60,465,000 and $45,966,000, respectively. Bank of New York Mellon Corp significantly increased its stake by 939.1%, now owning 329,173 shares worth $36,959,000. APG Asset Management N.V. also acquired a new stake valued at $28,241,000.
As of the latest filing, institutional investors and hedge funds collectively own 51.89% of MakeMyTrip’s stock. On Wednesday, MMYT shares opened at $105.25. The stock has fluctuated between a 12-month low of $65.54 and a high of $123.00. MakeMyTrip’s current ratio stands at 2.88, with a debt-to-equity ratio of 0.19. The company boasts a market capitalization of $11.55 billion.
Analysts have been adjusting their ratings for MakeMyTrip. StockNews.com recently downgraded the stock from ‘hold’ to ‘sell’. Despite this, MakeMyTrip maintains a Buy rating among analysts. The company’s financial performance and market position continue to be monitored closely by investors and analysts alike.
