MakeMyTrip Limited $MMYT Stock Sold by TT International Asset Management LTD

TT International Asset Management LTD cut its position in MakeMyTrip Limited (NASDAQ:MMYT) by 51.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,034 shares of the technology company’s stock after selling 39,928 shares during the quarter. MakeMyTrip comprises 0.2% of TT International Asset Management LTD’s holdings, making the stock its 18th biggest position. TT International Asset Management LTD’s holdings in MakeMyTrip were worth $1,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP grew its position in MakeMyTrip by 5.7% in the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock worth $131,811,000 after purchasing an additional 133,723 shares during the last quarter. Royal Bank of Canada increased its stake in shares of MakeMyTrip by 53.8% in the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock valued at $130,464,000 after purchasing an additional 1,223,963 shares during the period. Temasek Holdings Private Ltd acquired a new stake in shares of MakeMyTrip in the first quarter valued at approximately $63,447,000. Coronation Fund Managers Ltd. raised its holdings in shares of MakeMyTrip by 22.5% during the first quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock valued at $57,136,000 after buying an additional 280,923 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of MakeMyTrip by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock worth $51,725,000 after buying an additional 413,087 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Stock Down 0.2%

Shares of MMYT opened at $45.50 on Wednesday. The firm has a 50-day moving average price of $48.13 and a 200 day moving average price of $50.66. The firm has a market capitalization of $4.28 billion, a PE ratio of 29.80 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. 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 for the quarter, compared to analysts’ expectations of $269.09 million. On average, equities analysts expect that MakeMyTrip Limited will post 1.54 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MMYT shares. Weiss Ratings raised MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. Zacks Research cut MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Bank of America reduced their price target on MakeMyTrip from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Five 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 an average rating of “Moderate Buy” and a consensus price target of $72.25.

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.