Mirae Asset Global Investments Co. Ltd. Buys 73,204 Shares of MakeMyTrip Limited $MMYT

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 73,204 shares of the technology company’s stock, valued at approximately $3,455,000.

Several other institutional investors and hedge funds also recently modified their holdings of MMYT. Avestar Capital LLC bought a new stake in shares of MakeMyTrip during the third quarter valued at about $4,077,000. Signaturefd LLC grew its position in MakeMyTrip by 9.0% in the 3rd quarter. Signaturefd LLC now owns 7,309 shares of the technology company’s stock valued at $345,000 after buying an additional 602 shares in the last quarter. Farther Finance Advisors LLC increased its stake in MakeMyTrip by 26.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock valued at $95,000 after buying an additional 422 shares during the period. Carrhae Capital LLP increased its stake in MakeMyTrip by 47.0% during the 2nd quarter. Carrhae Capital LLP now owns 221,385 shares of the technology company’s stock valued at $11,798,000 after buying an additional 70,823 shares during the period. Finally, Carmignac Gestion raised its position in shares of MakeMyTrip by 32.9% during the 2nd quarter. Carmignac Gestion now owns 40,452 shares of the technology company’s stock worth $2,156,000 after buying an additional 10,024 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT traded down $0.18 during trading hours on Friday, hitting $51.10. 862,468 shares of the company’s stock traded hands, compared to its average volume of 1,095,866. The company’s fifty day simple moving average is $47.64 and its two-hundred day simple moving average is $50.31. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 255.51 and a beta of 1.04. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $86.94.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Monday, October 26th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.04 by $0.43. The business had revenue of $235.16 million during the quarter, compared to analyst estimates of $269.09 million. MakeMyTrip had a net margin of 3.91% and a negative return on equity of 312.82%. On average, analysts anticipate that MakeMyTrip Limited will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MMYT has been the subject of a number of research analyst reports. Weiss Ratings raised shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Zacks Research cut MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Bank of America decreased their price target on MakeMyTrip from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.25.

Insider Activity at MakeMyTrip

In other news, CEO Rajesh Magow sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 20,000 shares of the company’s stock, valued at $1,002,200. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 10.30% of the company’s stock.

MakeMyTrip Profile

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.