MakeMyTrip Ltd. (MMYT) Position Increased by Westpac Banking Corp
Westpac Banking Corp boosted its stake in shares of MakeMyTrip Ltd. (NASDAQ:MMYT) by 43.0% during the second quarter, Holdings Channel reports. The firm owned 82,480 shares of the company’s stock after buying an additional 24,808 shares during the period. Westpac Banking Corp owned 0.20% of MakeMyTrip worth $1,226,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of MakeMyTrip by 6.5% in the first quarter. Geode Capital Management LLC now owns 17,388 shares of the company’s stock valued at $314,000 after buying an additional 1,056 shares in the last quarter. New Vernon Capital Holdings II LLC purchased a new stake in MakeMyTrip during the second quarter valued at about $668,000. First Trust Advisors LP raised its stake in MakeMyTrip by 200.9% in the second quarter. First Trust Advisors LP now owns 223,544 shares of the company’s stock valued at $3,322,000 after buying an additional 149,240 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in 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. Finally, Wellington Management Group LLP purchased a new stake in MakeMyTrip during the first quarter valued at about $13,065,000. Institutional investors and hedge funds own 76.68% of the company’s stock.
Shares of MakeMyTrip Ltd. (NASDAQ:MMYT) opened at 23.60 on Friday. The firm has a 50-day moving average of $20.47 and a 200-day moving average of $17.92. The firm’s market cap is $983.60 million. MakeMyTrip Ltd. has a 12 month low of $13.69 and a 12 month high of $23.80.
MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by $0.09. The business earned $121.23 million during the quarter, compared to the consensus estimate of $93.66 million. MakeMyTrip had a negative return on equity of 80.55% and a negative net margin of 27.12%. The firm’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, analysts anticipate that MakeMyTrip Ltd. will post ($2.41) EPS for the current year.
MMYT has been the topic of several analyst reports. Nomura upgraded shares of MakeMyTrip from a “reduce” rating to a “neutral” rating and reduced their price target for the stock from $14.50 to $14.00 in a research report on Friday, June 3rd. Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Jefferies Group increased their price target on shares of MakeMyTrip from $19.10 to $19.80 and gave the stock a “buy” rating in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.34.
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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