As of June 1, 2023, Aviva PLC has announced it’s most recent acquisition of MakeMyTrip Limited (NASDAQ:MMYT), a technology company that offers online travel services. The acquisition saw Aviva PLC increase its shares in the company by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission.
The firm now owns a total of 592,088 shares in MakeMyTrip, worth $972,000 at the end of the reporting period. This follows Aviva PLC’s strategy of investing in promising technology companies with potential for growth and innovation in their respective fields.
MakeMyTrip’s innovative approach to online travel services has earned them widespread recognition and respect within the industry. Their advanced technological solutions enable travelers to efficiently plan and book their travels with ease.
Aviva PLC’s investment signals confidence in MakeMyTrip Limited’s ability to innovate and grow in these ever-evolving times. Given the current state of global affairs where travel restrictions have hindered movement across borders, investing in innovative travel platforms presents an opportunity for growth beyond traditional business models.
This investment not only benefits Aviva PLC financially but also aligns with their vision of supporting companies that drive progress and innovation through technology. With this infusion of capital from Aviva PLC, MakeMyTrip Limited can pursue more ambitious plans for expansion and technical advancements to better serve travelers worldwide.
Overall, this move is a reflection of Aviva PLC’s commitment to embracing modern technologies as a way forward towards achieving sustainable economic growth while promoting progressiveness. It is exciting to see what opportunities will arise as these two companies work together towards a more connected world.
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Institutional Investors Increase Holdings in MakeMyTrip Despite Uncertainty: A Look at the Online Travel Company’s Prospects
As of June 1, 2023, MakeMyTrip Ltd., an online travel company that offers services ranging from air ticketing to car rental, has seen a significant increase in holdings by institutional investors. Confluence Investment Management LLC raised its position in the company by 3.5% during the fourth quarter, resulting in ownership of over 10,000 shares worth $297,000. Other notable institutions who have made moves include Envestnet Asset Management Inc. and Credit Suisse AG.
Despite recent gains by these investors, StockNews.com initiated coverage on MakeMyTrip with a rating of “hold” on May 18th, citing uncertainty surrounding market trends and competition. However, five other investment analysts have given the company a “buy” rating and Bloomberg.com reports an average consensus price target of $40.50 for MakeMyTrip.
MakeMyTrip remains an attractive option for those seeking online travel services with offerings including hotels and packages, rail and bus tickets among others. This includes access to third-party insurance options and visa processing.
Looking forward, it will be interesting to see how continued investor interest impacts the growth strategy at MakeMyTrip as well as potential market shifts within the online travel space.
