MakeMyTrip Limited $MMYT Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 509,950 shares of the technology company’s stock after selling 75,419 shares during the period. Pictet Asset Management Holding SA’s holdings in MakeMyTrip were worth $24,070,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Temasek Holdings Private Ltd purchased a new stake in shares of MakeMyTrip in the first quarter worth approximately $63,447,000. Royal Bank of Canada grew its position in MakeMyTrip by 53.8% during the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock valued at $130,464,000 after purchasing an additional 1,223,963 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in MakeMyTrip by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock valued at $51,725,000 after purchasing an additional 413,087 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake 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 valued at $57,136,000 after buying an additional 280,923 shares during the period. Finally, Hsbc Holdings PLC increased its stake in MakeMyTrip by 442.5% in the 1st quarter. Hsbc Holdings PLC now owns 298,384 shares of the technology company’s stock valued at $11,127,000 after buying an additional 243,384 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

MMYT opened at $52.87 on Thursday. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $86.94. The business has a 50-day moving average of $47.30 and a 200-day moving average of $50.12. The company has a market capitalization of $4.97 billion, a PE ratio of 33.72 and a beta of 1.04.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Monday, October 26th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.04 by $0.43. The business had revenue of $235.16 million during the quarter, compared to analysts’ expectations of $269.09 million. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. On average, equities research analysts expect that MakeMyTrip Limited will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Rajesh Magow sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $45.25, for a total transaction of $905,000.00. Following the transaction, the chief executive officer owned 20,000 shares of the company’s stock, valued at approximately $905,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.30% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company that enables consumers to research, plan and book travel through its websites and mobile apps. Founded in 2000, the company is headquartered in Gurugram, India, and serves travelers in India and other markets. Its services include bookings for domestic and international flights, hotels and other accommodations, holiday packages, rail and bus travel, and car rentals. MakeMyTrip also offers travel services for businesses through its myBiz platform. The company operates the MakeMyTrip, Goibibo and redBus brands, which provide travelers with options for comparing and booking a range of travel products.