MakeMyTrip Limited $MMYT Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 73,204 shares of the technology company’s stock, valued at approximately $3,455,000. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of MakeMyTrip as of its most recent SEC filing.

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

Insiders Place Their Bets

In other MakeMyTrip news, CEO Rajesh Magow sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $50.11, for a total transaction of $501,100.00. Following the completion of the transaction, the chief executive officer directly owned 20,000 shares of the company’s stock, valued at $1,002,200. The trade was a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MMYT. Zacks Research cut shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Bank of America reduced their target price on MakeMyTrip from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Weiss Ratings upgraded MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, MakeMyTrip currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.25.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT traded down $0.18 during mid-day trading on Friday, hitting $51.10. The company had a trading volume of 862,468 shares, compared to its average volume of 1,095,866. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $86.94. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 255.51 and a beta of 1.04. The firm’s 50 day simple moving average is $47.64 and its two-hundred day simple moving average is $50.31.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Monday, October 26th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.43. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. The firm had revenue of $235.16 million for the quarter, compared to analyst estimates of $269.09 million. Equities analysts forecast that MakeMyTrip Limited will post 1.54 earnings per share for the current year.

MakeMyTrip Company 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.