Amundi Pioneer Asset Management Inc. bought a new stake in MakeMyTrip (NASDAQ:MMYT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 413,681 shares of the technology company’s stock, valued at approximately $12,349,000. Amundi Pioneer Asset Management Inc. owned approximately 0.45% of MakeMyTrip at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. grew its stake in MakeMyTrip by 29.9% in the fourth quarter. Alliancebernstein L.P. now owns 353,572 shares of the technology company’s stock valued at $10,554,000 after purchasing an additional 81,320 shares in the last quarter. Geode Capital Management LLC grew its stake in MakeMyTrip by 46.6% in the fourth quarter. Geode Capital Management LLC now owns 54,290 shares of the technology company’s stock valued at $1,620,000 after purchasing an additional 17,253 shares in the last quarter. MayTech Global Investments LLC purchased a new position in MakeMyTrip in the fourth quarter valued at about $2,731,000. Brown Advisory Inc. grew its stake in MakeMyTrip by 22.1% in the fourth quarter. Brown Advisory Inc. now owns 638,393 shares of the technology company’s stock valued at $19,056,000 after purchasing an additional 115,590 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in MakeMyTrip by 25.1% in the fourth quarter. First Trust Advisors LP now owns 351,771 shares of the technology company’s stock valued at $10,500,000 after purchasing an additional 70,626 shares in the last quarter. Hedge funds and other institutional investors own 47.00% of the company’s stock.
MMYT has been the topic of a number of recent research reports. Goldman Sachs initiated coverage on MakeMyTrip in a research note on Thursday, November 30th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. BidaskClub downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. JPMorgan Chase & Co. upgraded MakeMyTrip from a “neutral” rating to an “overweight” rating and set a $36.00 target price on the stock in a research note on Tuesday, February 27th. Finally, Jefferies Group set a $30.00 target price on MakeMyTrip and gave the company a “hold” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. MakeMyTrip currently has a consensus rating of “Hold” and a consensus price target of $32.60.
Shares of MakeMyTrip (NASDAQ MMYT) opened at $34.95 on Friday. MakeMyTrip has a 12-month low of $22.40 and a 12-month high of $40.90. The firm has a market capitalization of $3,318.71, a PE ratio of -12.99 and a beta of -0.01.
MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08. MakeMyTrip had a negative return on equity of 12.00% and a negative net margin of 38.95%. The company had revenue of $151.40 million during the quarter, compared to analysts’ expectations of $143.89 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 97.9% compared to the same quarter last year. equities research analysts predict that MakeMyTrip will post -2.14 earnings per share for the current fiscal year.
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MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, provides travel products and solutions in India and internationally. MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, the Netherlands, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Hong Kong, and Bangladesh.
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