Franklin Resources Inc. trimmed its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 23.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,047,295 shares of the technology company’s stock after selling 639,000 shares during the period. Franklin Resources Inc. owned approximately 2.01% of MakeMyTrip worth $56,194,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of MMYT. Acadian Asset Management LLC purchased a new stake in shares of MakeMyTrip in the third quarter worth approximately $108,000. Fox Run Management L.L.C. purchased a new stake in shares of MakeMyTrip in the third quarter worth approximately $235,000. Cubist Systematic Strategies LLC raised its holdings in shares of MakeMyTrip by 30.7% in the second quarter. Cubist Systematic Strategies LLC now owns 9,082 shares of the technology company’s stock worth $328,000 after buying an additional 2,133 shares during the period. Krane Funds Advisors LLC raised its holdings in shares of MakeMyTrip by 90.6% in the second quarter. Krane Funds Advisors LLC now owns 9,149 shares of the technology company’s stock worth $331,000 after buying an additional 4,349 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of MakeMyTrip in the second quarter worth approximately $360,000. 44.31% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on MMYT. Zacks Investment Research upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. BidaskClub downgraded MakeMyTrip from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 22nd. Bank of America increased their price target on MakeMyTrip from $39.50 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. ValuEngine downgraded MakeMyTrip from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Jefferies Financial Group upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 price target on the stock in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.13.
MMYT opened at $23.72 on Friday. MakeMyTrip Limited has a 52 week low of $20.82 and a 52 week high of $41.70.
MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Thursday, October 25th. The technology company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The firm had revenue of $160.10 million for the quarter. MakeMyTrip had a negative return on equity of 11.27% and a negative net margin of 32.59%. Equities analysts predict that MakeMyTrip Limited will post -1.5 earnings per share for the current year.
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MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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