Goldman Sachs Group Inc. Acquires New Stake in MakeMyTrip Limited (MMYT)

Goldman Sachs Group Inc. bought a new position in MakeMyTrip Limited (NASDAQ:MMYT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,755 shares of the technology company’s stock, valued at approximately $3,486,000. Goldman Sachs Group Inc. owned approximately 0.20% of MakeMyTrip Limited at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. bought a new position in MakeMyTrip Limited during the first quarter worth approximately $80,600,000. JHL Capital Group LLC bought a new position in MakeMyTrip Limited during the first quarter worth approximately $43,250,000. Manning & Napier Advisors LLC bought a new position in MakeMyTrip Limited during the first quarter worth approximately $26,476,000. Horseman Capital Management Ltd bought a new position in MakeMyTrip Limited during the first quarter worth approximately $22,715,000. Finally, Driehaus Capital Management LLC bought a new position in MakeMyTrip Limited during the first quarter worth approximately $15,958,000. Hedge funds and other institutional investors own 42.56% of the company’s stock.

MakeMyTrip Limited (NASDAQ:MMYT) traded up 1.240% during midday trading on Thursday, hitting $30.625. The company had a trading volume of 272,806 shares. MakeMyTrip Limited has a 52 week low of $17.71 and a 52 week high of $40.90. The firm’s market capitalization is $2.98 billion. The firm’s 50 day moving average is $32.35 and its 200-day moving average is $33.83.

MakeMyTrip Limited (NASDAQ:MMYT) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.14. The company had revenue of $141.21 million for the quarter, compared to analysts’ expectations of $110.67 million. MakeMyTrip Limited had a negative net margin of 31.64% and a negative return on equity of 16.91%. The business’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.73) earnings per share. On average, equities research analysts expect that MakeMyTrip Limited will post ($2.13) EPS for the current fiscal year.

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A number of equities analysts have commented on MMYT shares. Zacks Investment Research lowered MakeMyTrip Limited from a “buy” rating to a “sell” rating in a research note on Wednesday, July 5th. TheStreet raised MakeMyTrip Limited from a “d” rating to a “c-” rating in a report on Tuesday, July 25th. ValuEngine raised MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating and raised their target price for the company from $19.80 to $32.00 in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. MakeMyTrip Limited has a consensus rating of “Hold” and a consensus target price of $32.30.

MakeMyTrip Limited 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.