MakeMyTrip Limited (MMYT) Shares Bought by New Silk Road Investment PTE Ltd.

New Silk Road Investment PTE Ltd. increased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 134.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 594,291 shares of the technology company’s stock after buying an additional 340,400 shares during the quarter. MakeMyTrip comprises 9.4% of New Silk Road Investment PTE Ltd.’s holdings, making the stock its 3rd largest position. New Silk Road Investment PTE Ltd.’s holdings in MakeMyTrip were worth $17,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in MakeMyTrip by 12.7% during the 2nd quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock valued at $119,000 after acquiring an additional 399 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of MakeMyTrip during the third quarter worth $135,000. California Public Employees Retirement System acquired a new stake in shares of MakeMyTrip during the second quarter worth $262,000. Legal & General Group Plc acquired a new stake in shares of MakeMyTrip during the third quarter worth $238,000. Finally, Caxton Associates LP acquired a new stake in shares of MakeMyTrip during the second quarter worth $278,000. Institutional investors and hedge funds own 44.85% of the company’s stock.

MakeMyTrip Limited (MMYT) traded up $0.65 during trading on Wednesday, reaching $32.20. 289,500 shares of the company’s stock traded hands, compared to its average volume of 299,100. The firm has a market cap of $2,890.00, a PE ratio of -13.47 and a beta of 0.17. MakeMyTrip Limited has a 52-week low of $22.40 and a 52-week high of $40.90.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, November 1st. The technology company reported ($0.45) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.27. MakeMyTrip had a negative net margin of 31.73% and a negative return on equity of 12.74%. The firm had revenue of $139.20 million for the quarter, compared to analysts’ expectations of $110.72 million. During the same quarter last year, the company earned ($0.61) EPS. MakeMyTrip’s quarterly revenue was up 161.7% on a year-over-year basis. sell-side analysts predict that MakeMyTrip Limited will post -2.26 EPS for the current year.

A number of brokerages have weighed in on MMYT. BidaskClub raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 5th. ValuEngine cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. TheStreet cut shares of MakeMyTrip from a “c-” rating to a “d” rating in a report on Tuesday, November 14th. Finally, Goldman Sachs Group assumed coverage on shares of MakeMyTrip in a report on Thursday, November 30th. They issued a “buy” rating and a $36.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. MakeMyTrip presently has an average rating of “Hold” and a consensus price target of $32.13.

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MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.

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Institutional Ownership by Quarter for MakeMyTrip (NASDAQ:MMYT)

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