MakeMyTrip (NASDAQ:MMYT) CEO Sells $905,000.00 in Stock

MakeMyTrip Limited (NASDAQ:MMYT) CEO Rajesh Magow sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $45.25, for a total value of $905,000.00. Following the completion of the transaction, the chief executive officer directly owned 20,000 shares of the company’s stock, valued at approximately $905,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rajesh Magow also recently made the following trade(s):

• On Wednesday, November 4th, Rajesh Magow sold 10,000 shares of MakeMyTrip stock. The shares were sold at an average price of $50.11, for a total value of $501,100.00.

MakeMyTrip Trading Down 0.4%

Shares of MMYT stock opened at $51.10 on Friday. The business’s 50-day moving average price is $47.64 and its 200-day moving average price is $50.31. MakeMyTrip Limited has a 12 month low of $32.67 and a 12 month high of $86.94. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 255.51 and a beta of 1.04.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Monday, October 26th. The technology company reported $0.47 earnings per share (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 the consensus estimate of $269.09 million. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. On average, sell-side analysts predict that MakeMyTrip Limited will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of MakeMyTrip

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of MakeMyTrip by 74.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after buying an additional 422 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of MakeMyTrip by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock worth $95,000 after buying an additional 422 shares during the period. Allworth Financial LP increased its stake in shares of MakeMyTrip by 45.9% in the 3rd quarter. Allworth Financial LP now owns 1,468 shares of the technology company’s stock worth $69,000 after acquiring an additional 462 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of MakeMyTrip by 416.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after acquiring an additional 546 shares in the last quarter. Finally, Signaturefd LLC lifted its position in MakeMyTrip by 9.0% during the 3rd quarter. Signaturefd LLC now owns 7,309 shares of the technology company’s stock valued at $345,000 after acquiring an additional 602 shares during the period. 51.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages 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 lowered shares of 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 research note on Saturday, October 24th. Finally, Bank of America decreased their price objective on MakeMyTrip from $60.00 to $55.00 and set a “buy” rating for the company in a report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.25.

About MakeMyTrip

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.