MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,712 shares of the technology company’s stock after selling 16,152 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MakeMyTrip were worth $8,164,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MMYT. Jennison Associates LLC lifted its stake in shares of MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after acquiring an additional 1,710,773 shares in the last quarter. FMR LLC lifted its stake in shares of MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock worth $337,917,000 after acquiring an additional 1,230,916 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of MakeMyTrip in the third quarter worth about $44,521,000. The Manufacturers Life Insurance Company raised its stake in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after buying an additional 107,814 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in MakeMyTrip during the third quarter valued at approximately $9,388,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MMYT. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America upped their target price on MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th.

MakeMyTrip Stock Down 1.9 %

NASDAQ:MMYT opened at $101.60 on Wednesday. The firm has a market capitalization of $11.15 billion, a PE ratio of 55.22, a price-to-earnings-growth ratio of 7.53 and a beta of 1.28. The stock has a 50 day moving average of $111.19 and a 200-day moving average of $104.78. MakeMyTrip Limited has a 52 week low of $55.60 and a 52 week high of $123.00. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. Analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.