MakeMyTrip Limited $MMYT Stock Sold by TT International Asset Management LTD

Key Points

• TT International Asset Management cut its MakeMyTrip stake by 51.9% in the third quarter, selling 39,928 shares and retaining 37,034 shares valued at about $1.75 million.
• MakeMyTrip reported quarterly EPS of $0.47, beating the $0.04 consensus estimate, while revenue of $235.16 million fell short of analysts’ $269.09 million estimate.
• Analysts maintain a “Moderate Buy” consensus with a $72.25 average price target; shares opened at $45.50 in the report.

TT International Asset Management LTD decreased its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 51.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,034 shares of the technology company's stock after selling 39,928 shares during the period. MakeMyTrip comprises about 0.2% of TT International Asset Management LTD's investment portfolio, making the stock its 18th biggest holding. TT International Asset Management LTD's holdings in MakeMyTrip were worth $1,748,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MMYT. Temasek Holdings Private Ltd bought a new stake in MakeMyTrip in the first quarter valued at about $63,447,000. Royal Bank of Canada lifted its holdings in MakeMyTrip by 53.8% during the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company's stock worth $130,464,000 after buying an additional 1,223,963 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in MakeMyTrip by 43.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company's stock worth $51,725,000 after buying an additional 413,087 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company's stock worth $57,136,000 after buying an additional 280,923 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of MakeMyTrip by 442.5% in the 1st quarter. Hsbc Holdings PLC now owns 298,384 shares of the technology company's stock worth $11,127,000 after acquiring an additional 243,384 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Down 0.2%

Shares of MMYT stock opened at $45.50 on Wednesday. The business has a 50 day moving average of $48.13 and a two-hundred day moving average of $50.66. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $86.94. The company has a market cap of $4.28 billion, a P/E ratio of 29.80 and a beta of 1.04.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its 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 company had revenue of $235.16 million during the quarter, compared to analyst estimates of $269.09 million. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. Analysts expect that MakeMyTrip Limited will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded MakeMyTrip from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Weiss Ratings raised shares of MakeMyTrip from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, October 26th. Finally, Bank of America lowered their target price on shares of MakeMyTrip from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, MakeMyTrip presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.25.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.

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