MakeMyTrip Limited $MMYT Stock Holdings Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 37.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,378 shares of the technology company’s stock after selling 24,386 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MakeMyTrip were worth $3,873,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MMYT. Schroder Investment Management Group raised its position in MakeMyTrip by 42.4% during the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock valued at $551,658,000 after acquiring an additional 1,674,538 shares in the last quarter. Norges Bank bought a new stake in MakeMyTrip in the second quarter worth $104,635,000. Man Group plc raised its holdings in MakeMyTrip by 6,434.6% during the second quarter. Man Group plc now owns 632,747 shares of the technology company’s stock valued at $62,022,000 after buying an additional 623,064 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of MakeMyTrip by 233.0% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock valued at $80,980,000 after acquiring an additional 605,388 shares during the last quarter. Finally, Fullerton Fund Management Co Ltd. lifted its holdings in MakeMyTrip by 343.1% in the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 690,787 shares of the technology company’s stock worth $67,711,000 after purchasing an additional 534,887 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MMYT shares. Bank of America reduced their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Citigroup dropped their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock opened at $55.84 on Friday. MakeMyTrip Limited has a twelve month low of $53.09 and a twelve month high of $113.85. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $6.21 billion, a P/E ratio of 116.33, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. The firm’s 50-day simple moving average is $72.01 and its 200-day simple moving average is $82.94.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The firm had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. As a group, research analysts expect that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.