Amundi Pioneer Asset Management Inc. bought a new stake in shares of MakeMyTrip (NASDAQ:MMYT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MMYT. Envestnet Asset Management Inc. bought a new position in shares of MakeMyTrip in the 3rd quarter worth $135,000. California Public Employees Retirement System purchased a new stake in MakeMyTrip during the 2nd quarter valued at about $262,000. Legal & General Group Plc purchased a new stake in MakeMyTrip during the 3rd quarter valued at about $238,000. Majedie Asset Management Ltd purchased a new stake in MakeMyTrip during the 3rd quarter valued at about $259,000. Finally, Iberiabank Corp purchased a new stake in MakeMyTrip during the 4th quarter valued at about $1,016,000. 46.99% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on MMYT shares. Zacks Investment Research upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, March 21st. TheStreet raised MakeMyTrip from a “d” rating to a “c-” rating in a report on Friday, February 23rd. BidaskClub cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Finally, JPMorgan Chase raised MakeMyTrip from a “neutral” rating to an “overweight” rating and set a $36.00 target price for the company in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.20.
MakeMyTrip stock traded down $0.45 during mid-day trading on Friday, hitting $33.95. The company’s stock had a trading volume of 276,226 shares, compared to its average volume of 338,123. The firm has a market capitalization of $3,112.43, a price-to-earnings ratio of -18.06 and a beta of -0.07. MakeMyTrip has a 1 year low of $22.40 and a 1 year high of $40.90.
MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.41) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $143.89 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 97.9% compared to the same quarter last year. equities research analysts predict that MakeMyTrip will post -2.13 earnings per share for the current fiscal year.
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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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