QVT Financial LP Lowers Stake in MakeMyTrip (NASDAQ:MMYT)

QVT Financial LP reduced its holdings in shares of MakeMyTrip (NASDAQ:MMYT) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,416,841 shares of the technology company’s stock after selling 649,160 shares during the quarter. MakeMyTrip accounts for about 2.3% of QVT Financial LP’s investment portfolio, making the stock its 7th largest holding. QVT Financial LP owned about 1.55% of MakeMyTrip worth $40,936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MMYT. Envestnet Asset Management Inc. bought a new position in MakeMyTrip during the third quarter worth $135,000. California Public Employees Retirement System bought a new position in MakeMyTrip during the second quarter worth $262,000. Legal & General Group Plc bought a new position in MakeMyTrip during the third quarter worth $238,000. Majedie Asset Management Ltd bought a new position in MakeMyTrip during the third quarter worth $259,000. Finally, Deutsche Bank AG bought a new position in MakeMyTrip during the fourth quarter worth $939,000. Institutional investors own 46.99% of the company’s stock.

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MMYT has been the topic of several research analyst reports. Zacks Investment Research upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Wednesday, March 21st. BidaskClub upgraded MakeMyTrip from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. TheStreet upgraded MakeMyTrip from a “d” rating to a “c-” rating in a research note on Friday, February 23rd. Jefferies Group set a $30.00 price objective on MakeMyTrip and gave the stock a “hold” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase raised MakeMyTrip from a “neutral” rating to an “overweight” rating and set a $36.00 target price on the stock in a research 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 given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $34.00.

NASDAQ MMYT traded down $2.30 during trading hours on Monday, hitting $32.40. The company had a trading volume of 467,005 shares, compared to its average volume of 349,552. MakeMyTrip has a fifty-two week low of $22.40 and a fifty-two week high of $40.90. The firm has a market capitalization of $3,181.19, a PE ratio of -17.23 and a beta of -0.08.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Thursday, February 8th. The technology company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.08. The firm had revenue of $151.40 million for the quarter, compared to analyst estimates of $143.89 million. MakeMyTrip had a negative return on equity of 12.00% and a negative net margin of 38.95%. The firm’s revenue for the quarter was up 97.9% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. equities research analysts predict that MakeMyTrip will post -2.14 earnings per share for the current year.

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MakeMyTrip Profile

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.

Institutional Ownership by Quarter for MakeMyTrip (NASDAQ:MMYT)

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