MakeMyTrip (NASDAQ:MMYT) Stock: Insider Rajesh Magow Sells 20,000 Shares

MakeMyTrip Limited (NASDAQ:MMYT) CEO Rajesh Magow sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $45.25, for a total transaction of $905,000.00. Following the completion of the sale, the chief executive officer directly owned 20,000 shares in the company, valued at approximately $905,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rajesh Magow also recently made the following trade(s):

• On Wednesday, November 4th, Rajesh Magow sold 10,000 shares of MakeMyTrip stock. The shares were sold at an average price of $50.11, for a total transaction of $501,100.00.

MakeMyTrip Price Performance

NASDAQ MMYT traded down $2.29 on Thursday, reaching $48.46. 1,065,385 shares of the company’s stock traded hands, compared to its average volume of 1,271,239. The stock has a market cap of $4.56 billion, a PE ratio of 241.71 and a beta of 1.04. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $86.94. The stock has a 50-day simple moving average of $47.94 and a 200 day simple moving average of $50.54.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Monday, October 26th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.43. The business had revenue of $235.16 million for the quarter, compared to analysts’ expectations of $269.09 million. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. As a group, analysts anticipate that MakeMyTrip Limited will post 1.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MMYT shares. Bank of America dropped their target price on shares of 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 raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Weiss Ratings upgraded shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Finally, Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.25.

Institutional Investors Weigh In On MakeMyTrip

Institutional investors and hedge funds have recently modified their holdings of the company. Temasek Holdings Private Ltd acquired a new stake in MakeMyTrip in the first quarter valued at $63,447,000. Royal Bank of Canada grew its position in MakeMyTrip by 53.8% during the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock worth $130,464,000 after buying an additional 1,223,963 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of MakeMyTrip by 43.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock worth $51,725,000 after acquiring an additional 413,087 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of MakeMyTrip by 22.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after buying an additional 280,923 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in MakeMyTrip by 442.5% in the 1st quarter. Hsbc Holdings PLC now owns 298,384 shares of the technology company’s stock valued at $11,127,000 after buying an additional 243,384 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

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.