MakeMyTrip Ltd. (MMYT) Sees Large Volume Increase
MakeMyTrip Ltd. (NASDAQ:MMYT) shares saw an uptick in trading volume on Tuesday . 175,100 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 187,112 shares.The stock last traded at $21.11 and had previously closed at $21.19.
A number of research firms have issued reports on MMYT. Nomura raised MakeMyTrip from a “reduce” rating to a “neutral” rating and decreased their target price for the company from $14.50 to $14.00 in a research note on Friday, June 3rd. Zacks Investment Research raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Finally, Jefferies Group boosted their target price on MakeMyTrip from $19.10 to $19.80 and gave the company a “buy” rating in a research note on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. MakeMyTrip currently has a consensus rating of “Hold” and an average price target of $16.68.
The firm has a 50-day moving average of $19.54 and a 200-day moving average of $17.62. The stock’s market capitalization is $882.74 million.
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MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by $0.09. MakeMyTrip had a negative net margin of 27.12% and a negative return on equity of 80.55%. The firm had revenue of $121.23 million for the quarter, compared to analyst estimates of $93.66 million. During the same period last year, the business earned ($0.05) EPS. The company’s revenue was up 54.5% compared to the same quarter last year. Equities analysts anticipate that MakeMyTrip Ltd. will post ($2.41) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Ward Ferry Management BVI Ltd increased its stake in MakeMyTrip by 81.6% in the second quarter. Ward Ferry Management BVI Ltd now owns 2,832,226 shares of the company’s stock valued at $42,087,000 after buying an additional 1,272,300 shares during the period. FMR LLC raised its position in shares of MakeMyTrip by 49.7% in the second quarter. FMR LLC now owns 1,480,600 shares of the company’s stock valued at $22,002,000 after buying an additional 491,400 shares in the last quarter. Think Investments LP raised its position in shares of MakeMyTrip by 104.8% in the second quarter. Think Investments LP now owns 1,239,600 shares of the company’s stock valued at $18,420,000 after buying an additional 634,300 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of MakeMyTrip during the first quarter valued at about $13,065,000. Finally, Goldman Sachs Group Inc. raised its position in shares of MakeMyTrip by 219.9% in the first quarter. Goldman Sachs Group Inc. now owns 493,237 shares of the company’s stock valued at $8,923,000 after buying an additional 339,037 shares in the last quarter. 76.68% of the stock is currently owned by institutional investors.
MakeMyTrip Company Profile
MakeMyTrip Limited is an online travel company in India. The Company conducts its business principally through its Indian subsidiary, MakeMyTrip (India) Private Limited (MMT India). Through its primary Website, www.makemytrip.com, or MakeMyTrip.com, its subsidiaries’ websites, such as www.hoteltravel.com, www.makemytrip.ae, www.makemytrip.com.sg, and other technology-enhanced distribution channels in India, including its call centers, travel stores and travel agents’ network, travelers can research, plan and book a wide range of travel services and products in India, as well as overseas.
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