MakeMyTrip (NASDAQ:MMYT) CEO Rajesh Magow Sells 10,000 Shares of Stock

MakeMyTrip Limited (NASDAQ:MMYT) CEO Rajesh Magow sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $50.11, for a total value of $501,100.00. Following the transaction, the chief executive officer owned 20,000 shares of the company’s stock, valued at $1,002,200. This trade represents a 33.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

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

MakeMyTrip Stock Performance

Shares of MMYT opened at $51.28 on Friday. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 33.17 and a beta of 1.04. MakeMyTrip Limited has a one year low of $32.67 and a one year high of $86.94. The stock’s fifty day moving average is $47.78 and its 200-day moving average is $50.43.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data 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. The business had revenue of $235.16 million during the quarter, compared to the consensus estimate of $269.09 million. MakeMyTrip had a net margin of 3.91% and a negative return on equity of 312.82%. Analysts forecast that MakeMyTrip Limited will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds have recently made changes to their positions in MMYT. Rockefeller Capital Management L.P. raised its position in shares of MakeMyTrip by 416.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after purchasing an additional 546 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $37,000 after purchasing an additional 422 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of MakeMyTrip by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock valued at $95,000 after purchasing an additional 422 shares during the period. Confluence Investment Management LLC acquired a new position in shares of MakeMyTrip in the 2nd quarter valued at $249,000. Finally, Signaturefd LLC boosted its position in shares of MakeMyTrip by 9.0% in the 3rd quarter. Signaturefd LLC now owns 7,309 shares of the technology company’s stock valued at $345,000 after purchasing an additional 602 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

About MakeMyTrip

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.