Cubist Systematic Strategies LLC Sells 13,043 Shares of MakeMyTrip Limited (MMYT)
Cubist Systematic Strategies LLC reduced its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 56.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,967 shares of the technology company’s stock after selling 13,043 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in MakeMyTrip were worth $287,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. D.A. Davidson & CO. boosted its stake in shares of MakeMyTrip by 12.7% in the 2nd quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock valued at $119,000 after purchasing an additional 399 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of MakeMyTrip in the 3rd quarter valued at $135,000. Legal & General Group Plc bought a new stake in shares of MakeMyTrip in the 3rd quarter valued at $238,000. Airain ltd bought a new stake in shares of MakeMyTrip in the 2nd quarter valued at $256,000. Finally, Majedie Asset Management Ltd bought a new stake in shares of MakeMyTrip in the 3rd quarter valued at $259,000. Hedge funds and other institutional investors own 44.85% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday. Goldman Sachs Group assumed coverage on shares of MakeMyTrip in a research note on Thursday, November 30th. They issued a “buy” rating and a $36.00 price objective on the stock. TheStreet lowered shares of MakeMyTrip from a “c-” rating to a “d” rating in a research note on Tuesday, November 14th. Jefferies Group reaffirmed a “hold” rating and issued a $31.50 price objective on shares of MakeMyTrip in a research note on Friday, October 13th. Finally, ValuEngine lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $32.13.
MakeMyTrip Limited (NASDAQ MMYT) opened at $30.65 on Friday. The stock has a market cap of $2,930.00, a price-to-earnings ratio of -12.82 and a beta of 0.17. MakeMyTrip Limited has a 12 month low of $22.40 and a 12 month high of $40.90.
MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, November 1st. The technology company reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.27. The business had revenue of $139.20 million for the quarter, compared to analyst estimates of $110.72 million. MakeMyTrip had a negative net margin of 31.73% and a negative return on equity of 12.74%. MakeMyTrip’s revenue was up 161.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.61) earnings per share. equities analysts anticipate that MakeMyTrip Limited will post -2.26 EPS for the current fiscal year.
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MakeMyTrip Company Profile
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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