Citigroup Inc. lowered its stake in MakeMyTrip Limited (NASDAQ:MMYT – Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 170,854 shares of the technology company’s stock after selling 7,593 shares during the quarter. Citigroup Inc. owned 0.16% of MakeMyTrip worth $4,181,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MayTech Global Investments LLC grew its stake in MakeMyTrip by 35.3% in the first quarter. MayTech Global Investments LLC now owns 164,144 shares of the technology company’s stock worth $4,017,000 after purchasing an additional 42,795 shares during the period. Freemont Capital Pte Ltd lifted its holdings in MakeMyTrip by 96.1% in the first quarter. Freemont Capital Pte Ltd now owns 97,650 shares of the technology company’s stock valued at $2,389,000 after acquiring an additional 47,850 shares during the period. Bessemer Group Inc. bought a new position in MakeMyTrip in the first quarter valued at about $92,000. Pictet Asset Management SA lifted its holdings in MakeMyTrip by 24.6% in the first quarter. Pictet Asset Management SA now owns 310,600 shares of the technology company’s stock valued at $7,600,000 after acquiring an additional 61,335 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in shares of MakeMyTrip by 65.1% in the first quarter. Thornburg Investment Management Inc. now owns 34,148 shares of the technology company’s stock worth $836,000 after buying an additional 13,461 shares during the period. Institutional investors own 44.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. StockNews.com assumed coverage on MakeMyTrip in a research report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup raised their price objective on MakeMyTrip from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, TheStreet raised MakeMyTrip from a “c” rating to a “b” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.67.
MakeMyTrip Trading Down 0.4 %
MMYT opened at $39.50 on Monday. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 246.89 and a beta of 1.19. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.02. MakeMyTrip Limited has a 12 month low of $22.50 and a 12 month high of $40.02. The stock has a fifty day moving average price of $32.09 and a 200-day moving average price of $27.79.
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.03 by $0.20. The firm had revenue of $196.73 million during the quarter, compared to analyst estimates of $149.68 million. MakeMyTrip had a return on equity of 3.94% and a net margin of 2.66%. As a group, equities research analysts anticipate that MakeMyTrip Limited will post 3.5 earnings per share for the current fiscal year.
MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.
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