Comerica Bank trimmed its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 25.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,269 shares of the technology company’s stock after selling 11,893 shares during the quarter. Comerica Bank’s holdings in MakeMyTrip were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in MMYT. Thornburg Investment Management Inc. bought a new position in MakeMyTrip in the 4th quarter worth approximately $112,000. BlackRock Inc. boosted its stake in MakeMyTrip by 20.5% in the fourth quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock worth $121,000 after purchasing an additional 847 shares in the last quarter. Pendal Group Ltd boosted its stake in MakeMyTrip by 4,612.7% in the fourth quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock worth $154,000 after purchasing an additional 6,181 shares in the last quarter. Bellecapital International Ltd. acquired a new position in MakeMyTrip in the first quarter worth $313,000. Finally, Cooper Haims Advisors LLC acquired a new position in MakeMyTrip in the first quarter worth $457,000. Institutional investors and hedge funds own 43.80% of the company’s stock.
Shares of MakeMyTrip stock traded down $0.05 on Wednesday, hitting $24.89. 348,569 shares of the company’s stock were exchanged, compared to its average volume of 299,741. MakeMyTrip Limited has a 1 year low of $19.66 and a 1 year high of $38.75. The firm has a 50-day moving average of $24.44. The company has a market capitalization of $2.54 billion, a PE ratio of -15.46 and a beta of 0.43.
MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Thursday, May 16th. The technology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. The company had revenue of $163.35 million for the quarter, compared to analysts’ expectations of $158.28 million. MakeMyTrip had a negative net margin of 34.52% and a negative return on equity of 10.72%. MakeMyTrip’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, research analysts forecast that MakeMyTrip Limited will post -1.1 EPS for the current year.
MMYT has been the subject of a number of recent research reports. BidaskClub upgraded MakeMyTrip from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Bank of America downgraded MakeMyTrip from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $25.00 in a report on Tuesday, April 30th. Zacks Investment Research upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, April 17th. Finally, ValuEngine upgraded MakeMyTrip from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $27.36.
MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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