MakeMyTrip (NASDAQ:MMYT) CEO Sells $501,100.00 in Stock

MakeMyTrip Limited (NASDAQ:MMYT) CEO Rajesh Magow sold 10,000 shares of the company’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 transaction, the chief executive officer owned 20,000 shares in the company, valued at $1,002,200. This represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rajesh Magow also recently made the following trade(s):

• On Tuesday, November 3rd, Rajesh Magow sold 20,000 shares of MakeMyTrip stock. The stock was sold at an average price of $45.25, for a total transaction of $905,000.00.

MakeMyTrip Stock Down 0.4%

MMYT opened at $51.10 on Friday. The firm has a 50 day moving average price of $47.64 and a 200-day moving average price of $50.31. MakeMyTrip Limited has a twelve month low of $32.67 and a twelve month high of $86.94. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 255.51 and a beta of 1.04.

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

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently added to or reduced their stakes in MMYT. EverSource Wealth Advisors LLC boosted its position in shares of MakeMyTrip by 74.3% during the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after acquiring an additional 422 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in MakeMyTrip by 416.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock valued at $56,000 after acquiring an additional 546 shares during the last quarter. Allworth Financial LP lifted its stake in MakeMyTrip by 45.9% in the 3rd quarter. Allworth Financial LP now owns 1,468 shares of the technology company’s stock worth $69,000 after purchasing an additional 462 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in MakeMyTrip by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock worth $95,000 after purchasing an additional 422 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in MakeMyTrip in the 2nd quarter worth $249,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.