Massachusetts Financial Services. recently announced the acquisition of new stake in MakeMyTrip Limited (NASDAQ:MMYT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 7.10% to 5.27 million shares with purchase of 0.35 million shares. This fresh investment now brings its stake to 8.29% valued currently at $82.06 million. In addition, Brown Advisory LLC raised its holdings by 0.22 million to 3.26 million shares. And Coronation Asset Management (Pty). has lifted its position by 14.61% or 0.29 million shares – to 2.24 million shares.
With over 1.45 million MakeMyTrip Limited (MMYT) shares trading Monday and a closing price of $14.68 on the day, the dollar volume was approximately $21.31 million. The shares have shown a positive weekly performance of 1.31% and its price on 08/24/20 gained nearly 6.76%. Currently, there are 106.56M common shares owned by the public and among those 46.79M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for MMYT have a consensus price objective of $17.20. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the MakeMyTrip Limited stock is 2.30 for the next 12 months. The average price target is 31.4% above its last price level and an upside to the estimated low will see the stock lose -46.8% over that period. But an upside of 38.83% will see the stock hit the forecast high price target while mean target price for the stock is $20.00.
The top 3 mutual fund holders in MakeMyTrip Limited are MFS Emerging Markets Equity Fund, American Funds New World Fund, and Fidelity Funds SICAV – Emerging M. MFS Emerging Markets Equity Fund owns 2.31 million shares of the company’s stock, all valued at over $35.9 million. The company bought an additional 42900.0 shares recently to bring their total holdings to about 3.63% of the shares outstanding. Fidelity Funds SICAV – Emerging M sold -0.14 million shares to bring its total holdings to over 1.11 million shares at a value of $17.26 million. Fidelity Funds SICAV – Emerging M now owns shares totaling to 1.75% of the shares outstanding.
Shares of MakeMyTrip Limited (NASDAQ: MMYT) opened at $13.75, unchanged from a prior closing price of $13.75. However, the script later closed the day at $14.68, up 6.76%. The company’s stock has a 5-day price change of 1.31% and -8.31% over the past three months. MMYT shares are trading -35.90% year to date (YTD), with the 12-month market performance down to -33.90% lower. It has a 12-month low price of $10.00 and touched a high of $30.13 over the same period. Currently, 1.45 million shares have been traded, compared to an average intraday trading volume of 442.43K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.17%, -6.79%, and -22.76% respectively.
Institutional ownership of MakeMyTrip Limited (NASDAQ: MMYT) shares accounts for 70.00% of the company’s 106.56M shares outstanding. Mutual fund holders own 31.22%, while other institutional holders and individual stakeholders account for 35.23% and — respectively.
It has a market capitalization of $1.56B and a beta (3y monthly) value of 1.14. The earnings-per-share (ttm) stands at -$4.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.59% over the week and 4.82% over the month.
Analysts forecast that MakeMyTrip Limited (MMYT) will achieve an EPS of -$0.31 for the current quarter, -$0.31 for the next quarter and -$0.75 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.26. Comparatively, EPS for the current quarter was -$0.35 a year ago. Earnings per share for the fiscal year are expected to decrease by -163.90%, and 57.50% over the next financial year. EPS should grow at an annualized rate of 33.90% over the next five years, compared to -57.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate MakeMyTrip Limited (MMYT) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MMYT, a number of firms have released research notes about the stock. BofA/Merrill stated their Underperform rating for the stock in a research note on May 11, 2020, with the firm’s price target at. BofA/Merrill coverage for the MakeMyTrip Limited (MMYT) stock in a research note released on November 04, 2019 offered a Buy rating with a price target of. BofA/Merrill was of a view on April 30, 2019 that the stock is Underperform, while Nomura gave the stock Buy rating on November 27, 2018, issuing a price target of. Goldman on their part issued Buy rating on October 26, 2018.