Key Points
- CEO Rajesh Magow sold 20,000 MakeMyTrip shares for $905,000 at an average price of $45.25, cutting his direct ownership by 50% to 20,000 shares. He also sold another 10,000 shares the following day for $501,100.
- MakeMyTrip reported quarterly EPS of $0.47, beating the $0.04 consensus estimate, while revenue of $235.16 million fell short of analysts’ $269.09 million forecast.
- Analysts’ consensus rating is Moderate Buy, with a $72.25 average price target; the stock opened at $51.28 on Friday.
MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report) CEO Rajesh Magow sold 10,000 shares of MakeMyTrip stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $50.11, for a total transaction of $501,100.00. Following the completion of the transaction, the chief executive officer directly owned 20,000 shares in the company, valued at approximately $1,002,200. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Rajesh Magow also recently made the following trade(s):
- On Tuesday, November 3rd, Rajesh Magow sold 20,000 shares of MakeMyTrip stock. The shares were sold at an average price of $45.25, for a total transaction of $905,000.00.
MakeMyTrip Price Performance
MMYT stock opened at $51.28 on Friday. The firm has a market capitalization of $4.82 billion, a P/E ratio of 33.17 and a beta of 1.04. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $86.94. The company's 50 day simple moving average is $47.78 and its 200-day simple moving average is $50.43.
MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The technology company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.43. MakeMyTrip had a net margin of 3.91% and a negative return on equity of 312.82%. The firm had revenue of $235.16 million during the quarter, compared to analyst estimates of $269.09 million. Sell-side analysts predict that MakeMyTrip Limited will post 1.54 EPS for the current fiscal year.
Hedge Funds Weigh In On MakeMyTrip
Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of MakeMyTrip by 4.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,441,643 shares of the technology company's stock worth $68,838,000 after purchasing an additional 59,222 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of MakeMyTrip during the third quarter worth approximately $3,455,000. Avestar Capital LLC acquired a new stake in shares of MakeMyTrip during the third quarter worth approximately $4,077,000. Signaturefd LLC grew its position in MakeMyTrip by 9.0% during the third quarter. Signaturefd LLC now owns 7,309 shares of the technology company's stock valued at $345,000 after purchasing an additional 602 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in MakeMyTrip by 26.6% during the third quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company's stock valued at $95,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.
Analyst Ratings Changes
MMYT has been the subject of a number of research analyst reports. Zacks Research lowered MakeMyTrip from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Bank of America decreased their target price on MakeMyTrip from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, October 27th. Wall Street Zen upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Finally, Weiss Ratings upgraded MakeMyTrip from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, October 26th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, MakeMyTrip presently has a consensus rating of "Moderate Buy" and an average target price of $72.25.
Check Out Our Latest Analysis on MMYT
MakeMyTrip Company Profile
(
Get Free Report)
MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.
The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.
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