MakeMyTrip (NASDAQ:MMYT) CEO Rajesh Magow Sells 20,000 Shares of Stock

MakeMyTrip Limited (NASDAQ:MMYT) CEO Rajesh Magow sold 20,000 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $45.25, for a total transaction of $905,000.00. Following the transaction, the chief executive officer directly owned 20,000 shares in the company, valued at $905,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, November 4th, Rajesh Magow sold 10,000 shares of MakeMyTrip stock. The stock was sold at an average price of $50.11, for a total value of $501,100.00.

MakeMyTrip Stock Up 1.0%

Shares of MakeMyTrip stock opened at $51.28 on Friday. The firm has a market cap of $4.82 billion, a P/E ratio of 33.17 and a beta of 1.04. The business has a 50-day moving average price of $47.78 and a 200 day moving average price of $50.43. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $86.94.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Monday, October 26th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating 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 business had revenue of $235.16 million for the quarter, compared to analyst estimates of $269.09 million. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 1.54 earnings per share for the current year.

Institutional Trading of MakeMyTrip

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP raised its holdings in shares of MakeMyTrip by 5.7% during the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after buying an additional 133,723 shares during the last quarter. Royal Bank of Canada boosted its position in shares of MakeMyTrip by 53.8% during the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock worth $130,464,000 after buying an additional 1,223,963 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in MakeMyTrip by 4.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,441,643 shares of the technology company’s stock worth $68,838,000 after buying an additional 59,222 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in MakeMyTrip in the 1st quarter worth approximately $63,447,000. Finally, Coronation Fund Managers Ltd. grew its holdings in MakeMyTrip by 22.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after buying an additional 280,923 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MMYT has been the topic of a number of research reports. Weiss Ratings raised shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. Bank of America reduced their price target on shares of MakeMyTrip from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Zacks Research lowered shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.