Janus Henderson Group and other major fund managers increase holdings in Indian online travel firm, signalling sustained confidence despite market fluctuations and a mixed analyst view, with Wall Street broadly positive on the company’s growth prospects.
Janus Henderson Group lifted its stake in MakeMyTrip in the first quarter, adding 22,622 shares and taking its holding to 117,787 shares, according to a filing with the Securities and Exchange Commission. The position was valued at about $4.4 million at the end of the period. MarketBeat’s data show institutional and hedge fund investors now control 51.89% of MakeMyTrip’s stock, underlining continued professional interest in the Indian online travel company. MarketBeat also said the stock has drawn a broadly positive Wall Street view, with a consensus Buy rating and an average price target of $86.75.
The latest filing comes amid a broader pattern of accumulation by large investors. MarketBeat reported that Bessemer Group Inc. nearly doubled its MakeMyTrip holding in the first quarter, while HSBC Holdings PLC built a larger position and U S Global Investors also expanded its stake. Coronation Fund Managers likewise increased its exposure, with several of these firms citing the company’s growth potential in online travel and related services. That activity suggests fund managers remain willing to back MakeMyTrip despite recent swings in the share price.
MakeMyTrip shares opened Friday at $60.05, giving the company a market value of $5.65 billion. The stock has traded between $32.67 and $104.43 over the past 52 weeks, with a 50-day average of $51.86 and a 200-day average of $50.49, according to MarketBeat. Analyst opinion has not been uniform: Goldman Sachs set a $84 target, HSBC initiated coverage with a Buy rating and a $70 target, while Wall Street Zen downgraded the shares to Sell. Even so, the overall tone remains constructive, with MarketBeat describing the stock as a Buy on consensus.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
